Elektrobit Group Oyj - EB, ELEKTROBIT CORPORATION OUTSOURCES THE RADIO NETWORK SOLUTIONS BUSINESS UNIT'S R&D AND TESTING ACTIVITIES IN TAMPERE AND ESPOO TO EMBIO OY
December 18, 2007
EB, ELEKTROBIT CORPORATION OUTSOURCES THE RADIO NETWORK SOLUTIONS BUSINESS UNIT'S R&D AND TESTING ACTIVITIES IN TAMPERE AND ESPOO TO EMBIO OY
PRESS RELEASE
Free for publication on December 18, 2007 at 12.00 am. (EET)
EB, ELEKTROBIT CORPORATION OUTSOURCES THE RADIO NETWORK SOLUTIONS BUSINESS UNIT'S R&D AND TESTING ACTIVITIES IN TAMPERE AND ESPOO TO EMBIO OY
EB, Elektrobit and Embio Oy have signed an agreement, according to which EB's Radio Network Solutions Business Unit related R&D activities in Espoo and hardware design and testing activities in Tampere will be transferred to Embio as of 31.12.2007.
This outsourcing arrangement is a part of EB's previously published project to increase the productivity and improve the fixed costs efficiency. With the arrangement EB's Radio Network Solutions Business Unit will focus its hardware development in Finland in the bigger, already existing sites in Oulu, Kajaani and Turku while embedded software design will be continued also in Tampere. In the context, 70 employees of EB will be transferred to Embio with corresponding terms of employment.
The agreement does not have a significant impact on EB's balance sheet or result. The parties have agreed not to publish the purchase price or other agreement terms.
December 18, 2007
Elektrobit Corporation
Pertti Korhonen
CEO
FURTHER INFORMATION:
Panu Miettinen
CFO
EB
Tel. +358 40 344 5338
Kauko Väinämö
Senior Vice President
EB, Radio Network Solutions Business Unit
Tel. +358 40 344 3567
DISTRIBUTION:
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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 industries. The net sales for the year 2006 totalled MEUR 181.5. Elektrobit Corporation is listed on OMX Helsinki.
www.elektrobit.com
Embio Oy
Embio Oy is fast growing design service company for telecommunication, embedded technology and other electronics industry. The company work in co-operation with the leading companies in the market and implement projects worldwide. The core competences include DSP software development services, Digital IC design, HW design and testing services. The company is actively involved in the development of telecommunications standards as a member of the WIMAX and OBSAI communities. Embio Oy employs approximately 84 experienced specialists at Kemi, Oulu, Raahe and Ylivieska.
www.embio.fi
