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Embedded | March 19, 2012

Prevas signs LOI with Zetiq Development

Prevas has signed a letter of intent (LOI) regarding the acquisition of Zetiq Development AB in Karlskoga.
Embedded systems are an important component of almost all advanced products in our everyday lives, including cellular phones, home electronics, cars and airplanes. Zetiq Development has very extensive experience in the electronics industry. The company has 15 employees in Karlskoga, and its business is based on assignments from external European customers such as AIMS, Öhlins and a very prestigious racing team.

"The trend to make the development process for products more efficient continues. It is of increasing importance to develop products more quickly and at a lower cost. There is a growing demand from our customers to provide them with this type of competitive advantage. For this reason, it is strategically important that Prevas strengthen its offering and presence in Värmland, the western part of Sweden and Norway," says Jonas Mann, Business Area Manager Product Development at Prevas.

"We look forward to joining Prevas and helping strengthen the company's development in the area of embedded systems. We are a good complement to Prevas, and the acquisition will enable us to improve our offering to both employees and customers. In addition, the corporate culture and focus at Prevas are quite similar to those at Zetiq, which should make for a smooth integration process," says Magnus Edman, President of Zetiq Development.

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