Eurotech acquires American Embedded firm

Italy based Eurotech, with 259 employees has acquired the American embedded specialist Applied Data Systems Inc. for $54 million. $41.5 million will be paid initially and if the calendar 2007 runs as expected the company will pay another $12.5 million to the former owners. ADS (Columbia, MD) is a developer of application-ready ARM-based embedded computer systems, typically running Windows CE or Linux. Its products are used in a variety of industries such as medical monitoring, fleet management, point of sale, process control, digital signage and gaming. The company's turnover in the year to September 30 2006 was $28 million with an EBITDA of $4.8 million. Recently ADS acquired 60 percent of an R&D company Chengdu Vantron Technology Ltd in China with 30 engineers. In April 2006 Eurotech acquired Arcom Control Systems Ltd (Cambridge, England) and Arcom Control Systems Inc. (Overland Park, Kansas) from Spectris plc "We continue to look for acquisition opportunities in the U.S., U.K. and continental Europe that support our strategic aim to build strength, size and scale in our chosen markets and to enhance shareholder value," said Roberto Siagri, Eurotech chief executive.