SMT & Inspection | June 14, 2007
Elektrobit buys Austria based Decomys
Elektrobit Corporation has entered today into a share purchase agreement under the terms of which it shall purchase 100 per cent of the shares in Decomsys Beteiligungs GmbH.
Decomsys is a solutions provider for FlexRay, the new high performance network communications protocol standard for automotive electronics, and AUTOSAR (Automotive Open System Architecture) next generation standard software. Headquartered in Vienna, Austria, Decomsys employs 48 people, mainly software professionals. The Transaction comprises the subsidiaries of Decomsys in Austria, Germany and USA. The signed agreement supports EB's strategy, which is to focus on the Automotive and Wireless Business Segments. The agreement strengthens the operation of the Automotive Software Business Unit, which belongs to the Automotive Business Segment. The core products of Decomsys are FlexRay design tools, FlexRay software stacks, and FlexRay network analysis tools. The Automotive Software Business Unit already uses the Decomsys' FlexRay software stack in its AUTOSAR products. The Transaction does not have a significant impact on EB's balance sheet or result. The closing of the Transaction is subject to the fulfilment of customary closing conditions. If the said conditions at met, the transaction is targeted to be closed at the end of June, 2007 and by the end of the year, at the latest. The sellers are private individuals and the parties have agreed not to publish the purchase price or other agreement terms. Commenting on the acquisition, Mr. Pertti Korhonen, CEO, EB, said: " Decomsys' product portfolio complements perfectly our Automotive Software strategy to be a full solution provider of AUTOSAR runtime software and tooling. Decomsys is a global leader in FlexRay technology. We warmly welcome Decomsys employees to join EB." Looking forward to the joint work in the new corporate structure, founders of Decomsys, Mr. Emmerich Fuchs and Mr. Dietmar Millinger state: "The strategic integration of Decomsys' FlexRay product and service portfolio into EB gives us the power and possibilities that are required to make FlexRay projects a success in AUTOSAR based environments. We are happy to take part in this market changing development."