Prevas AB has signed an agreement to acquire Emfila Software AB in Lund, which is a specialist in embedded systems. The acquisition strengthens and solidifies Prevas´s position as the Nordic leader in the sector.
Emfila Software AB provides software specialists in the area of embedded systems to product development companies in the Öresund Sound region. The company was founded in 2004 and has 15 employees. The acquisition of Emfila strengthens Prevas´s presence in product development and embedded systems in the Skåne and Öresund Sound regions. This is fully in line with the Prevas Group strategy to be the Nordic leader in this area. Prevas has a strong position among its customers and will continue to invest in IT services combined with complete platforms and modules.
Embedded systems are a key component in many advanced products such as cell phones, home electronics, medical instruments, cars and aircrafts. It is becoming increasingly important to develop new products faster and less expensively. The market for intelligent product development is characterized by rising demand, which is being driven by the necessary technology shift for an increasing number of products and shorter product life cycles.
An acquisition agreement has been signed and will come into effect as of October 1, 2008. The fixed purchase price totals SEK 5.0 million. The acquisition sum includes a cash payment of SEK 2.5 million and approximately 100,000 newly issued Prevas B shares, which correspond to SEK 2.5 million on the date of possession. Additional remuneration, based on the company´s performance up to the end of December 2009, may also be added to the purchase price. However, the maximum total consideration, including additional remuneration, may not total more than SEK 12.0 million. The acquired company will become part of the Prevas Group and is expected to attain an operating margin of approximately 18% during the final quarter of 2008. The unit will be fully included in Prevas´ Consolidated Financial Statements as of October 1, 2007.
Emfila Software AB provides software specialists in the area of embedded systems to product development companies in the Öresund Sound region. The company was founded in 2004 and has 15 employees. The acquisition of Emfila strengthens Prevas´s presence in product development and embedded systems in the Skåne and Öresund Sound regions. This is fully in line with the Prevas Group strategy to be the Nordic leader in this area. Prevas has a strong position among its customers and will continue to invest in IT services combined with complete platforms and modules.
Embedded systems are a key component in many advanced products such as cell phones, home electronics, medical instruments, cars and aircrafts. It is becoming increasingly important to develop new products faster and less expensively. The market for intelligent product development is characterized by rising demand, which is being driven by the necessary technology shift for an increasing number of products and shorter product life cycles.
An acquisition agreement has been signed and will come into effect as of October 1, 2008. The fixed purchase price totals SEK 5.0 million. The acquisition sum includes a cash payment of SEK 2.5 million and approximately 100,000 newly issued Prevas B shares, which correspond to SEK 2.5 million on the date of possession. Additional remuneration, based on the company´s performance up to the end of December 2009, may also be added to the purchase price. However, the maximum total consideration, including additional remuneration, may not total more than SEK 12.0 million. The acquired company will become part of the Prevas Group and is expected to attain an operating margin of approximately 18% during the final quarter of 2008. The unit will be fully included in Prevas´ Consolidated Financial Statements as of October 1, 2007.
For additional information, contact
Anders Malmby, Senior Vice President Product Development Sweden, Prevas AB
Phone: +46 (0) 32 86 27, Mobile: +46 (0) 730 52 22 65
E-mail: anders.malmby@prevas.se
Lauri Piitulainen, President of Emfila Software AB
Mobile: +46 (0) 735 01 10 17
E-mail: lauri.piitulainen@emfila.com
