Electronics Production |
Wavecom buys Anyware Technology
France based Wavecom S.A. has signed a definitive agreement to acquire Anyware Technologies, a machine-to-machine (M2M) client-server software solutions provider located in Toulouse, France.
"Anyware is a recognized leader in developing M2M software solutions for customers who use wireless technology to enhance their business processes. Anyware Technologies' M2M-specific solutions perfectly compliment Wavecom's secure and scalable Intelligent Device Services (IDS) platform, with the combination creating the most advanced end-to-end software solution in the industry." commented Ron Black, CEO of Wavecom.
"We have been a Wavecom technology partner for several years and welcome the opportunity to join forces in broadening the deployment of our combined best-in-class turn-key solutions which allow customers to develop wireless products that connect any equipment seamlessly to their IT infrastructure." added Ludovic Le Moan, CEO of Anyware Technologies.
Anyware Technologies is now a wholly-owned subsidiary of Wavecom. The headquarters remains in Toulouse. Emmanuel Walckenaer, becomes CEO of this subsidiary while retaining his current role as VP of Wavecom's Intelligent Device Services. Ludovic Le Moan will continue to play a strategic role in the company by driving technological innovation. He will pilot the building of a new offer, combining Anyware Technologies software and Wavecom embedded expertise on a new platform which will ease customer's adoption while significantly reducing time to market of complete M2M solutions.
Emmanuel Walckenaer, added, "Anyware Technologies brings to Wavecom a world class-leading Integrated Development Environment (IDE), built on Eclipse, whose ease-of-use will accelerate broad adoption of wireless M2M applications. Anyware's Java™-based software can be used with all brands of wireless modules and the company will continue to supply to the entire wireless M2M space.
Formed in 2000, Anyware Technologies has grown at high double digit rates over the last few years, ending 2007 with sales of nearly € 5 million, an increase of 74% from the previous year, and was profitable. The transaction was finalized for a cash payment to Anyware shareholders of € 9.1 million plus € 1.5 million placed in an escrow account for customary warranty provisions. An additional payment for earn-out of up to € 2 million upon reaching certain milestones is to be made in 2009. The acquisition should be accretive for Wavecom in 2008.
