Elektrobit Group Oyj - ELEKTROBIT CORPORATION ACQUIRES DECOMSYS TO STRENGTHEN ITS AUTOMOTIVE BUSINESS WITH STATE-OF-THE-ART FLEXRAY TECHNOLOGY
June 14, 2007
ELEKTROBIT CORPORATION ACQUIRES DECOMSYS TO STRENGTHEN ITS AUTOMOTIVE BUSINESS WITH STATE-OF-THE-ART FLEXRAY TECHNOLOGY
PRESS RELEASE
Free for publication on June 14, 2007 at 3.20 pm. (EEST)
ELEKTROBIT CORPORATION ACQUIRES DECOMSYS TO STRENGTHEN ITS AUTOMOTIVE BUSINESS WITH STATE-OF-THE-ART FLEXRAY TECHNOLOGY
Elektrobit Corporation ("EB") has entered today into a share purchase agreement under the terms of which it shall purchase 100 per cent of the shares in DECOMSYS Beteiligungs GmbH ("DECOMSYS") (the "Transaction"). DECOMSYS is a solutions provider for FlexRay, the new high performance network communications protocol standard for automotive electronics, and AUTOSAR (Automotive Open System Architecture) next generation standard software. Headquartered in Vienna, Austria, DECOMSYS employs 48 people, mainly software professionals. The Transaction comprises the subsidiaries of DECOMSYS in Austria, Germany and USA.
The signed agreement supports EB's strategy, which is to focus on the Automotive and Wireless Business Segments. The agreement strengthens the operation of the Automotive Software Business Unit, which belongs to the Automotive Business Segment. The core products of DECOMSYS are FlexRay design tools, FlexRay software stacks, and FlexRay network analysis tools. The Automotive Software Business Unit already uses the DECOMSYS' FlexRay software stack in its AUTOSAR products.
The Transaction does not have a significant impact on EB's balance sheet or result. The closing of the Transaction is subject to the fulfilment of customary closing conditions. If the said conditions at met, the transaction is targeted to be closed at the end of June, 2007 and by the end of the year, at the latest. The sellers are private individuals and the parties have agreed not to publish the purchase price or other agreement terms.
Commenting on the acquisition, Mr. Pertti Korhonen, CEO, EB, said: "DECOMSYS' product portfolio complements perfectly our Automotive Software strategy to be a full solution provider of AUTOSAR runtime software and tooling. DECOMSYS is a global leader in FlexRay technology. We warmly welcome DECOMSYS employees to join EB."
Looking forward to the joint work in the new corporate structure, founders of DECOMSYS, Mr. Emmerich Fuchs and Mr. Dietmar Millinger state: "The strategic integration of DECOMSYS' FlexRay product and service portfolio into EB gives us the power and possibilities that are required to make FlexRay projects a success in AUTOSAR based environments. We are happy to take part in this market changing development."
June 14, 2007
Elektrobit Corporation
Pertti Korhonen
CEO
FURTHER INFORMATION:
Pertti Korhonen
CEO
EB
Tel. +358 40 344 3889
Otto Fößel
Managing Director Automotive
EB Automotive Software Business Unit
Tel. +49 9131 7701 321
Torsten Engelhardt
Public Relations
EB Automotive Software Business Segment
Tel. +49 9131 7701 134
DISTRIBUTION:
OMX Helsinki
Principal media
Elektrobit Corporation, EB
EB creates advanced technology and turns it into enriching end-user experiences. EB is specialized in demanding embedded software and hardware solutions for automotive and wireless technologies. The net sales for the year 2006 totalled MEUR 181.5. Elektrobit Corporation is listed on OMX Helsinki.
www.elektrobit.com
DECOMSYS
DECOMSYS GmbH is a solutions provider for FlexRay, the new high performance network communications protocol standard for automotive electronics, and AUTOSAR (Automotive Open System Architecture) next generation standard software. FlexRay enables new features and applications for more safety, economy, fun, and comfort in the car. Engineers at OEMs and Tier 1 suppliers around the world use DECOMSYS design tools, monitoring solutions, and prototyping hardware. They also count on the comprehensive services, e.g. engineering, trainings, chip design, testing, and customized software development. As an active member of both the FlexRay Consortium and AUTOSAR, DECOMSYS is especially proud to be a basic software provider for the first FlexRay series projects. Headquartered in Vienna, Austria, DECOMSYS has a subsidiary in Germany and in the USA.
