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Enea AB STOCKHOLM, May 30, 2008 - As announced April 21, 2008 Enea has signed an agreement to acquire Romanian services company IP Devel SRL.
The transaction has now been completed and will be consolidated into Enea as of June 1, 2008.
IP Devel is specialized in embedded systems development and advanced test services. The company is profitable and has grown quickly since 2000. Net sales for 2007 were approximately EUR 4 million. Enea is, since 2006, one of IP Devel's largest customers and partners. IP Devel has about 120 employees and is based in Bucharest.
Enea acquires 100 percent of the shares in IP Devel for EUR 3.2 million in cash at closing, with an additional payment after four years based on the financial performance of IP Devel. Sellers are Adecco, the world leader in HR Services (76 percent) and founders and CEO (24 percent).
About IP Devel IP Devel provides advanced IT outsourcing services towards complex IT solutions with focus on embedded technology and testing. IP Devel engineers some of the newest, most innovative projects worldwide in embedded systems development and advanced testing services. Since its start in 2000, IP Devel has provided over 400 solutions in creative applications, testing and validation services for leading technology providers. The company has grown rapidly since the start, making IP Devel one of the off shore leaders coming from the Romanian market. For further information on IP Devel, please visit www.ipdevel.net.
About Enea Enea is the leading supplier of real-time operating systems, middleware, development tools, database technology and professional services for high-availability systems such as telecommunications infrastructure, mobile devices, medical instrumentation, and automobile control/infotainment. Enea's flagship operating system, Enea OSE, is deployed in approximately half of the world's 3G mobile phones and base stations. Enea has over 550 employees and is listed on the OMX Nordic Exchange Stockholm AB (Nordic Exchange/Small Cap/ENEA). For further information on Enea, please visit www.enea.com.
