Sylog Sverige AB, a subsidiary of Data Respons, has entered into an agreement to acquire 100 % of the shares in Atero AB.
Atero has 15 employees located in Linköping and are experts in software development, system design and communication for embedded and IoT solutions. The acquisition strengthens Sylog's position as a leading player within R&D services in Linköping.
- Atero has an impressive client list, highly skilled employees and a culture that matches our own. Sweden is our largest market with more than half of the revenues in the Data Respons group. We have a revenue growth of 30% year to date and see a large potential in the coming years, says Kenneth Ragnvaldsen, CEO of Data Respons.
- We are really looking forward to join forces with Sylog. Together with Sylog`s specialists in the region we now have the best prerequisites to participate in innovative projects and build smart technology solutions for our customers, says Klaus Tindholm, VD in Atero.
Atero expects a turnover of SEK 20 million for 2017 with an operating margin of approximately 15 %. The company will be consolidated into Data Respons' financial statements from Q4 2016. An agreement has been reached for a cash consideration of SEK 4.4 million at closing, with additional yearly earnout payments depending on the company's EBIT over the next three years.
For further information:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, tel. +47 913 90 918.
About Data Respons
Data Respons is a full-service, independent technology company and a leading player in the embedded solutions market. We provide products, services and embedded computer solutions to OEM companies, system integrators and vertical product suppliers in a range of market segments such as defence, medical equipment, industrial automation, oil services and offshore, transportation, energy and telecommunications. Embedded solutions can be described as the computer brain of a machine, system or industrial end product, and can be used in a broad range of industrial applications.
Data Respons ASA is listed on the Oslo Stock Exchange (Ticker: DAT), and is part of the information technology index. The company has offices in Norway, Sweden, Denmark, Germany and Taiwan. www.datarespons.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.