Data Respons ASA has acquired market leader Embedit A/S in Denmark for 30 million DKK with an additional compensation based on the 2007 and 2008 results. - The acquisition places us in the leading position of the Embedded Solutions market in Denmark, says CEO Kenneth Ragnvaldsen in Data Respons ASA.
Embedit A/S was founded in 2000 and has within a few years become a leading development company focusing on embedded hardware and software. The company, with head offices in Copenhagen and an office in Jylland, has a total of 35 employees. Embedit is expecting revenues of 50 million DKK, and an EBIT of 6 million DKK in 2006.
- Embedit will raise Data Respons' expertise as well as shift us from our current position as challenger to a leading player within the embedded market in Denmark. Embedit complements Data Respons well and will contribute heavily to the strong growth rate we are experiencing in Denmark, says Ragnvaldsen.
- I think we have the best possible circumstances to succeed, says CEO and founder Tommy Andersen in Embedit A/S. Data Respons and Embedit both focus on customized embedded solutions and are characterized by a high level of technology expertise. We are extremely motivated in becoming part of Data Respons and look forward to contribute to the vision of becoming the leading embedded solution company in Europe within 2010.
The acquisition presupposes 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. Data Respons ASA 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, Tandberg, 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 2nd quarter 2006 the company had a total of 167 employees.
More information on Data Respons ASA can be found on our website: www.datarespons.com