Data Respons acquires Syrén Software AB
Data Respons acquires the Swedish development company Syrén Software AB. The company was established in 1998 and has 25 employees in their offices in Gothenburg. Syrén Software is an Embedded Solutions specialist within the automotive, telemetric and telecommunications markets.
The Swedish embedded market is estimated at five times the size of Norway’s, which is why Sweden is an important area of priority for Data Respons.
- Syrén Software has some of the country’s leading experts within technical software development, which will further strengthen Data Respons’ competence profile in Sweden. In addition they have several interesting reference customers such as Volvo, Ericsson, Siemens and Assa Abloy. This purchase will give us local presence in Gothenburg, which is important because several of our largest customers are located here, says Kenneth Ragnvaldsen, CEO of Data Respons ASA.
Syrén Software AB’s preliminary statements for 2006 show revenues of SEK 23.2 million and an EBIT of SEK 2.8 million. The company has had positive results every year since the start up in 1998.
Data Respons will initially pay SEK 6.2 million with additional payments depending on the results in 2007 and 2008. It is estimated that the total payment will amount to approximately SEK 18 million. Considering the cash balance at purchase date, the total cash outlay is expected to be approximately SEK 12 million.
The acquisition is subjected to a satisfactory due diligence course.
ABOUT DATA RESPONS
Data Respons` vision is to become leading in Europe within 2010 on Embedded Solutions in the industrial market. Embedded Solutions can be described as being the brains of a machine, system or industrial end product. Data Respons 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 3rd quarter 2006 the company had a total of 183 employees.
More information on Data Respons ASA can be found on our website: www.datarespons.com
- Contact Information
- Kenneth Ragnvaldsen
- Data Respons ASA
- Contact via E-mail
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