Acquisition in Sweden
Data Respons has entered an agreement to buy 100 % of the shares in Sylog Sverige AB. The company with offices in Stockholm have 70 employees. The acquisition confirms Data Respons' position as leading within the Embedded Solutions market in the Nordic region.
Sylog is a well recognised company in the Stockholm area within embedded system development, system integration, testing and verification. The acquisition includes Profinder AB, a subsidiary of Sylog Sverige AB.
Sylog's largest customers are well known industrial companies such as Ericsson, Sony Ericsson, SAAB, Bombardier, Stoneridge, Micronic and Scania. The company's customers are mainly in the Telecom, Defence and Transport segment.
- We have had a continuing cooperation with Sylog in later years and are pleased that the management in Sylog wanted to partake in Data Respons' vision in becoming a leader in the Embedded Solutions market in Europe, says CEO of Data Respons ASA Kenneth Ragnvaldsen. Sylog will strengthen Data Respons' position in Sweden and will add size to the competence base which makes us such an attractive partner for large Swedish industrial customers.
Sylog has a divergent financial year and expect a turnover of SEK 100 million in the next 12 months and an EBIT margin of 8-9 %. The company will be consolidated in Data Respons group accounts from the 1st of July 2007.
The recompense depends on Sylog's results in the period from 01.07.07 - 31.12.09 and will amount to a minimum of SEK 20 millions, which will be paid in cash on the completion of the acquisition.
The acquisition is subject to a satisfactory due diligence course.
FOR FURTHER INFORMATION PLEASE CONTACT:
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