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Acquisition strengthens Prevas´ successful expansion in Denmark


Prevas A/S has signed an acquisition agreement with the Danish company, Kasmatic Innovation A/S. Prevas will take over the company´s embedded systems business, consisting of 6 consultants. The merger with Prevas´ current operations in Denmark results in a subsidiary with 70 employees and MSEK 70 in sales. The acquisition not only brings highly sought-after expertise and established customer relationships to Prevas, but also a well-developed network of contacts at the Technical University of Denmark in Copenhagen.
Prevas established its business in Denmark on 1 January 2006. Since that time, the business has quickly developed into Denmark´s leading supplier within the area of embedded systems. The acquisition of Kasmatic´s consulting business strengthens Prevas´ position as leader and results in an organization with 70 employees within the area of embedded systems.
Kasmatic develops customized electronics and software applications. The company also acts a catalyst for the transfer of new technology from the realm of research and academia to the company's customers. The company is located in Copenhagen, close to the Technical University of Denmark (DTU), with which they have a well-developed system of cooperation with regards to the latest expertise and new technologies. The acquisition also gives Prevas access to a network of over 20 outside consultants from DTU that are regularly used by Kasmatic. Strong ties with the University, where there is a high level of expertise and resources, further strengthens Prevas´ successful expansion in Denmark. Besides expertise and development resources, Prevas also gains a number of well-established customer relationships, including Ambu International, Cappit, Geopal System, Hærens Materiel Kommando, Laerdal, PowerSense and Vestas.
An asset purchase and assumption of liabilities agreement has been signed, effective 1 October 2007. The fixed purchase sum for the intangible assets amounts to MSEK 0.4. The value of other acquired assets and liabilities will be added. The acquisition sum will be paid in cash. Additional remuneration, based on the company´s performance during the first 12-months subsequent to the acquisition, may also be added to the purchase price. The total purchase sum, including any additional remuneration is estimated at SEK 1.0 to 1.4 million. The acquired unit will become part of the Prevas Group and is expected to attain an operating margin of approximately 10% sometime during the first half of 2008. The unit will be fully included in Prevas´ Consolidated Financial Statements as of 1 October 2007.

Anders Englund, CEO Prevas AB
Tel: +46 (0)8-726 40 56, Mobile: +46 70-620 96 59

Allan Berg, MD Kasmatic Innovation A/S
Tel: +45 45 93 75 83, Cell: +45 21 49 45 24


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