Sylog strengthens its position in Services in Stockholm
Sylog Sverige AB, a subsidiary of Data Respons ASA, has entered into an agreement to acquire 100 % of the shares in iWise AB.
iWise and Sylog have for the past 8 years had a strategic partnership where iWise as a subcontractor has provided expertise to Sylog's customers such as Ericsson and Saab. The acquisition is a continuation of an established collaboration over many years.
iWise has 20 employees and offices in Stockholm, and expects a turnover of SEK 25 million for 2013 with an operating margin of approximately 10 %. The company will be consolidated into Sylog's financial statements from 2014.
An agreement has been reached for a cash consideration of SEK 6 million, with additional payments depending on the company's development over the next few years.
For further information:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, tel. +47 913 90 918.
About Data Respons
Data Respons is a full-service, independent technology company and a leading player in the embedded solutions market. We provide products, services and embedded computer solutions to OEM companies, system integrators and vertical product suppliers in a range of market segments such as defence, medical equipment, industrial automation, oil services and offshore, transportation, energy and telecommunications. Embedded solutions can be described as the computer brain of a machine, system or industrial end product, and can be used in a broad range of industrial applications. Data Respons ASA is listed on the Oslo Stock Exchange (Ticker: DAT), and is part of the information technology index. The company has 358 employees and offices in Norway, Sweden, Denmark, Germany and Taiwan. www.datarespons.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.