IAR Systems expands its equity stake in Secure Thingz
Uppsala, Sweden – November 7, 2017 – IAR Systems hereby announces that the company has signed an agreement to expand its equity share in Secure Thingz, a supplier of advanced security solutions for embedded systems in the Internet of Things (IoT), from 10 to 20 percent.
In April 2017, IAR Systems supplemented its data security product portfolio by acquiring a 10-percent equity stake in Secure Thingz. The agreement also entailed a possibility for IAR Systems to expand its stake in the company. In November 2017, IAR Systems decided to exercise this possibility and signed an agreement to acquire additional shares in the company. The payment for the shares will be fulfilled in the first quarter of 2018 and IAR Systems will thereafter hold a 20-percent stake in Secure Thingz.
Secure Thingz delivers products and services for the development, management and deployment of embedded data security in devices and products. The collaboration between Secure Thingz and IAR Systems mainly focuses on the management of critical information during the development process. This investment in Secure Thingz will enable IAR Systems to offer its global customers products that guarantee data security throughout the development and manufacturing process, which is becoming increasingly important for customers as the number of connected devices grows.
This information constitutes insider information that IAR Systems Group AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08:30 a.m. on November 7, 2017.
Contact persons at IAR Systems Group AB
Josefin Skarin, Investor Contact, IAR Systems Group AB
Stefan Skarin, President and CEO, IAR Systems Group AB
IAR Systems is the world’s leading independent provider of software for programming of processors in embedded systems. IAR Systems’ software is used by many of the world’s largest corporations, as well as thousands of small and medium-sized companies, mainly operating in industrial automation, medical technology, telecommunications, consumer electronics and the automotive industry. IAR Systems Group AB is listed on the Mid Cap list of Nasdaq Stockholm.