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.
ELEKTROBIT CORPORATION ACQUIRES DECOMSYS TO STRENGTHEN ITS AUTOMOTIVE BUSINESS WITH STATE-OF-THE-ART FLEXRAY TECHNOLOGY
| Quelle: Bittium Oyj