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Elektrobit Oyj PRESS RELEASE Free for publication on, July 17, 2008 at 16.30 pm. (CET+1) EB, ELEKTROBIT CORPORATION, STRENGTHENS ITS POSITION IN THE AUTOMOTIVE INDUSTRY IN FRANCE BY ACQUISITION
EB, who is specialized in demanding embedded software and hardware solutions for automotive and wireless industries, has acquired Net Consulting & Services S.A.R.L in France. With the acquisition, EB strengths its position in France and strengthens further its ECU (Electronic Control Unit) software product portfolio.
Net Consulting & Services is specialized in engineering services and products for embedded networks in the automotive industry. The company offers standard software clusters, ECU validation tools and related engineering services for Control Area Networks and Local Interconnect Networks within the cars. Headquartered in Chatou, France, the company employs 14 people. Net Consulting & Services is established in 1999 and it counts amongst its customers companies like PSA Peugeot Citroën, Delphi and Valeo.
"The acquisition with Net Consulting & Services complements EB's on-going customer relationships in the automotive market and provides EB with key products and competencies in some of the main automotive networking standards", says Jarkko Sairanen, Executive Vice President, from EB.
"We are excited about this opportunity and fully committed to continue and develop the successful cooperation with our customers as a part of EB. I am really happy to start working with EB who is one of the leading professionals in this business area and has wide experience and knowledge in automotive industry", says Bruno Abou, founder of Net Consulting & Services.
The acquisition 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.
Further information:
Jarkko Sairanen Executive Vice President Tel. +49 9131 7701 6330
EB, Elektrobit Corporation 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 2007 totaled MEUR 144.3. Elektrobit Corporation is listed on OMX Nordic Exchange Helsinki. www.elektrobit.com
Net Consulting & Services S.A.R.L Since its foundation in 1999, NCS developed an expertise in automotive embedded networks, recognized in the French automotive market. NCS is specialized in the design of products and services aiming to support the design and production of communicating applications in cars. In this scope, the company contracts either directly with the OEMs or with their Tiers1. The net sales for the year 2007 totaled MEUR 0.95. www.net-c-s.com
