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Enea AB Stockholm, Sweden. - June 24, 2008 - Enea® (Nordic Exchange/Small Cap/ENEA), a world leading provider of network software and services, today announced the acquisition of the Swedish software company ZealCore® Embedded Solutions AB. With ZealCore Enea enhances its competitive tools offering and acquires valuable patented technology. ZealCore is the second technology acquisition in a short time period for Enea.
ZealCore is well-known for its debugging system, a software for accelerated troubleshooting of embedded software systems. The code is patented and features a black box functionality for CPU-system, tracing and tracking bugs. The debugger, record and playback technology is used in the development of embedded solutions for trains, telecom platforms and industrial automation.
ZealCore products complements Enea's tools offering with new functionality for system debugging and enhanced graphical overview; applications that show an increased demand from the embedded industry. The investment is in line with Enea's long term strategy to offer complete integrated solutions with software, services and third part products for embedded systems.
"ZealCore is Swedish state of the art technology", said Johan Wall, president and CEO, Enea. "The products complement and increase the value of our own tools offering. ZealCore is a strategic acquisition as embedded systems show a growing need for tools. Tools provide a more efficient systems development as they reduce development time and - costs. This is wholly in line with Enea's overall market offering."
ZealCore has five employees. Projected net sales for 2008 are SEK 5.5 million (EUR 0.6 million). Customers are market leaders within telecom, transportation and industry automation, like ABB and Bombardier.
"Enea has 40 years of embedded leadership", said Henrik Thane, founder, ZealCore. "Enea has a solid telecoms customer base that has a growing need for debugging software. Together we create a powerful and competitive tools offering."
Enea acquires all shares in ZealCore for an undisclosed amount. An additional payment based on ZealCore's sales performance 2008 will take place. Sellers are KTH Chalmers Capital, SEB Venture Capital, Industrifonden and the two founders, Henrik Thane and Kristian Sandström, who remains in the company. The deal is completed on July 1.
About ZealCore ZealCore Embedded Solutions AB provides unique and patented technologies for diagnostics and maintenance of complex and critical software control systems. ZealCore delivers products, ZealCore® System Debugger and ZealCore® System Recorder, for failure diagnostics of commissioned systems, where failures are extremely costly, where observability and accessibility are low, and where fault identification and correction is very time consuming and costly. ZealCore has five employees. Customers are market leaders in telecom, transportation and industry automation. The technology stems from years of pioneering research at the Royal Institute of Technology and Mälardalen Real-Time Research Center, in Sweden. The founders, Henrik Thane and Kristian Sandström, are still active in the company. ZealCore investors are KTH Chalmers Capital, Industrifonden and SEB Venture Capital.
About Enea Enea (Nordic Exchange/Small Cap/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 700 employees and is listed on the OMX Nordic Exchange Stockholm AB. For further information on Enea, please visit www.enea.com.
