Bittium Corporation has updated its strategy on November 24, 2016 to strengthen its position in the global markets and to speed up its growth. The company plans to make significant investments in the future by increasing significantly the R&D investments in its own products and solutions in the year 2017. In line with the nature of the defense and public safety markets, the investments will pay back in a longer time period and therefore Bittium plans to activate the most of the R&D investments to its balance sheet. The company has a strong balance sheet and financial position.
Bittium has decided to establish a new product and service area around healthcare technology. By combining healthcare technologies with Bittium´s long-term experience and knowhow in wireless and security technologies give the company good conditions to serve its customers in healthcare sector by offering them new kinds of products and services. As the first step to build the competencies in healthcare technology on November 10, 2016 Bittium acquired Mega Electronics Ltd, a company specialized in measuring and monitoring biosignals.
Bittium continues to search for inorganic growth opportunities in all its product and service areas and is prepared to invest in acquisitions that strengthen the company´s growth strategy.
According to its updated strategy the company´s business will be divided into three product and service areas effective as of December 1, 2016: Defense & Security, Connectivity and Medical Technologies.