Teleca strengthens position in Mobile Devices - acquires YacCom in France with 34 employees
Teleca strengthens position in Mobile Devices - acquires YacCom in France with 34 employees Teleca has acquired the consulting company YacCom in Rennes, France, with 34 employees. The acquisition is part of Teleca's strategy to build a global business within Mobile Devices and strengthen its position in major European markets. YacCom YacCom was founded five years ago and has had a stable growth with excellent margins since the start. The company has built a strong position within mobile devices in France and internationally thanks to an outstanding track record and high-level relationships with many leading manufacturers. YacCom delivers high-tech software solutions to a broad customer group including Alcatel, Arima, France Telecom, Mitsubishi, Philips, Quanta, Samsung, Sendo and Wavecom. "This merger creates great opportunities partly through Teleca's focus on Mobile Devices and partly through co-operation with Teleca's existing operations in France," says Jacky Boscher, CEO at YacCom. "Through the merger we will be able to offer our customers more complete solutions and also increase our delivery capacity. We are convinced that the merger with Teleca will accelerate our development". "YacCom strengthens Teleca's solutions capability in France particularly in Mobile Devices," says Nick Stammers, CEO at Teleca AB. "We are very impressed by YacCom's experienced development team and focused management which has delivered stable growth and excellent margins in a very tough market." Effects of the Acquisition Teleca is to pay an initial purchase price of approximately SEK 39 M. In addition, supplementary purchase prices will be paid in 2004 and 2006, depending on the earnings trend. Included in YacCom is a net cash of approximately SEK 22 M. The results from YacCom will be consolidated with Teleca from 1 January 2003 and are expected to have an immediate positive effect on earnings per share after full tax. Goodwill amortisation will be applied at a rate of 10% annually at approximately SEK 1.6 M. For further information, contact: * Nick Stammers, CEO, Teleca AB, +44 7768 323 535 * Jacky Boscher, CEO, YacCom, +33 685 227 181 Teleca is a European consulting group focused on new technology and R&D. Our business concept is to strengthen our customer's market position and time-to-market. This is achieved by providing professional teams with specialist technical expertise, working in partnership with development-intensive companies world-wide. The group has more than 2,300 employees in 13 countries with a strong presence in the Nordic region, UK, and France. Teleca is quoted on the Attract40 list of Stockholmsbörsen. www.teleca.com. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/02/24/20030224BIT00240/wkr0001.doc http://www.waymaker.net/bitonline/2003/02/24/20030224BIT00240/wkr0002.pdf