Data Respons acquires Digitas AS
Data Respons has acquired the Norwegian development company Digitas AS. The acquisition will strengthen Data Respons in areas which have great potential of growth in the next few years.
- We knew Digitas through our cooperation on several large projects and were impressed with the company's embedded development expertise based on programmable FPGA, says CEO of Data Respons ASA Kenneth Ragnvaldsen. Digitas will strengthen areas that have a large potential of growth in future years.
Digitas was founded in 2004 and is located in Asker. The company has 10 employees and is among the leading experts within FPGA and ASIC development in Norway. The customer portfolio includes Sclumberger, Ericsson, Kongsberg Defence, Vmetro and Norspace, among others. Digitas expects a turnover of NOK 13 million and an EBIT of NOK 3,5 million in 2007.
The company will be consolidated in Data Respons group accounts from the 1st of July 2007. The recompense for the company will be set according to an earn out on annual results before tax for 2007, 2008 and 2009, and will amount to a minimum of NOK 6,6 million.
The acquisition is subject to a satisfactory due diligence course.
Kenneth Ragnvaldsen, CEO, Data Respons ASA, phone: +47 67 11 20 00 Mob: +47 913 90 918.
ABOUT DATA RESPONS
Data Respons` vision is to become leading in Europe within 2010 on Embedded Solutions in the industrial market. Embedded Solutions can be described as being the brains of a machine, system or industrial end product. Data Respons supplies Embedded Solutions to leading OEM companies, system integrators and vertical product suppliers in a range of market segments such as defence, offshore, automation, medical equipment, surveillance, transport, telecommunications and other industries. Data Respons` customers include Ericsson, Nera, ABB, Brüel & Kjær, Anritsu and Saab. Data Respons ASA is listed on the Oslo Stock Exchange (Ticker: DAT), and is part of the information technology index. The company has offices in Denmark, Finland, Norway, Sweden and Germany. At the close of the 1st quarter 2007 the company had a total of 259 employees.
More information on Data Respons ASA can be found on our website: http://www.datarespons.com