Consumer
electronics distributor Widget UK Ltd has announced
that it has taken a minority stake in Swedish distributor Sportsbud Sweden AB.
At the same time, Widget founder Mark Needham joins the board of Sportsbud.
Sportsbud
Sweden AB was founded by Max Ellberg, Axel
Djurson and Johannes Muellner in 2013 as a distributor of electronic products.
It became a customer of Widget UK in 2013, buying Fitbit and other products to
sell on to retailers in the Scandinavia. It also signed a distribution
agreement with Pebble in 2014 which made it exclusive distributor of Pebble
smartwatches in the Nordic markets.
Mark Needham
Chairman of Widget said “This investment
increases our reach in Northern Europe, bringing us local presence in
Scandinavia. With our home distribution team in Stevenage, and our subsidiary
in Eindhoven, Widget can now distribute across a wider swathe of territory than
before.”
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