Data Respons acquires Lundinova AB
Data Respons has agreed to purchase 100 % of the shares of Lundinova AB. The company has 35 employees with offices in Lund, Sweden. The acquisition confirms Data Respons' position as leading within the Embedded Solutions market in the Nordic region.
- The acquisition of Lundinova will provide Data Respons a foothold in the important Øresund-region in Sweden, says CEO Kenneth Ragnvaldsen in Data Respons ASA.
Lundinova is a highly regarded development company with customers such as SonyEricsson, Electrolux and Akzo Nobel. Lundinova's expertise will contribute to further strengthen our competency profile within the Swedish Embedded Solutions market.
Lundinova was founded in 2001 and have been profitable ever since. In 2007 the company expects revenues of SEK 34 million, and an EBIT margin of 10 %. The company will be consolidated in Data Respons' accounts from January 1st, 2008.
Total payment will depend on the company's development in 2008 and 2009, but will amount to a minimum of SEK 15 million.
The acquisition is subject to a satisfactory due diligence.
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 3rd quarter 2007 the company had a total of 364 employees.
More information on Data Respons ASA can be found on our website: http://www.datarespons.no