Enea acquires US-based TekSci Inc.
Enea acquires US-based TekSci Inc. Enea Data AB acquires all shares in TekSci Inc, a company based in Phoenix, Arizona. The company has operations in Phoenix, Seattle, San Diego, Chicago and Toulouse/France. TekSci Inc is a software consulting company focusing on high reliability software for companies mainly within telecom and avionics. Among the customers are companies including Motorola, Boeing, Honeywell, Sundstrand, Eldec, Alaris, Mentor Graphics, Alcatel and Rockwell. At the end of 1999 the number of employees was close to 90. During 1999 the company had approximately $14 M in revenue and $1.4 M in profit. TekSci provides its customers with a full range of services for software development; requirements, architecture, design, development, test and verification for high reliability software systems. A very strong special skill of TekSci is the ability to provide software certification and DER- services; these experts provide training and certification engineering resources to certify systems and software according to safety standards such as DO178B. "TekSci shows a very strong record and the business concept is very similar to Enea's business concept in Europe", says Åke Dovärn, CEO and president of Enea Data AB. "We have experienced a very good fit and will be able to support our US customers, not only with strong software products like OSE, but also with excellent services and experienced system developers. In the markets for high reliability systems the joint forces of TekSci and Enea will bring our customers highly valuable and leveraged full-service solutions." "TekSci will strengthen our rapid expansion in the US and provide the OSE-customers with excellent services", says Lars Österberg, CEO of the Enea-subsidiary Enea OSE Systems. "Our ability to help our customers with time-to-market issues and to build real robust and safety critical systems together with TekSci, will provide the customers with leading products and leading skills. TekSci staff are very qualified and experienced in the full high-reliability software lifecycle." "Today's realtime software products require increasingly powerful software and a shorter time-to-market, says Vance Hilderman, CEO of TekSci Inc. Clients need high reliability, off-the shelf software products and components, coupled with engineering to design and integrate cost- effective solutions. Prior to the merger, no single company provided necessary products and expertise to meet this growing demand. Now, our merger with Enea means a single entity provides one-stop shopping; Enea/OSE/TekSci is that entity." The acquisition of TekSci means a very important strengthening of Enea's and OSE's ability to provide customers within avionics and communication with experienced engineering and qualified system designers/developers as well as professional services for the OSE-product line. The joint forces will enable a continued quick expansion of the business. The acquisition also means a quantum leap to be the leading supplier of real time operating systems and related services within safety critical systems and Telecom/Datacom/Internet-infrastructure. Management of TekSci Vance Hildermann, CEO and Co-founder, will remain CEO and President of the TekSci operation. Financial terms The transaction price is 20.25 M$, where 25% is in Enea-shares and 75% is in cash. About Enea Data and Enea OSE Systems Enea OSE Systems is the technological leader for real-time operating systems and development tools for building distributed and ault-tolerant embedded real-time systems. Enea OSE Systems is a subsidiary of Enea Data, a Swedish company founded in 1968 and listed on the Swedish Stock Exchange since 1989. In total the work force is more than 540 persons in the Enea-group, working with OSE-products, embedded systems and e-commerce and internet solutions. With a work force of more than 110 persons, the core of Enea OSE Systems' business has always been the development of time-critical and highly reliable real-time operating systems and time saving, efficient, development tools. Enea OSE Systems' customers are found within the telecommunications, data communications, process control, automotive, defense, biomedical technology and consumer electronic industries. The OSE RTOS supports fault-tolerant systems that are designed to allow recovery from hardware and software failures. OSE differs from other RTOSs by adopting message-passing as its primary method of interprocess communication. Because of its support for high-availability systems, OSE has a particularly significant impact in the telecommunications industry. The OSE RTOS includes built-in safety features that have qualified it for International Electrotechnical Commission (IEC) 61508 certification. IEC 61508 for Functional Safety of Safety Related Systems is a standard for safety-critical systems. In addition, the OSE RTOS is currently seeking certification according to the stringent DO178-B safety standard. OSE is a trademark of Enea OSE Systems. About TekSci: TekSci is one of the largest, and fastest growing, high reliability consulting companies in the U.S. For four years, TekSci has been the fastest growing such company in the Western U.S, and has been in the Forbes Fastest 500 for the past two years. Founded in 1990, TekSci's focus is on high quality custom software solutions and client satisfaction. 100% of TekSci's clients have been repeat-clients, and its engineering staff averages 10+ years of software expertise. TekSci services include architecture, design, code, test, certification and technical traing. Further information: Åke Dovärn +46 709 714 119, firstname.lastname@example.org Vance Hilderman: TekSci Headquarters, 480 753 9200, email@example.com Lars Österberg: +46 709 714 165, firstname.lastname@example.org See also www.enea.se www.enea.com www.teksci.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/01/20000201BIT00760/bit0001.doc http://www.bit.se/bitonline/2000/02/01/20000201BIT00760/bit0002.pdf