Telelogic acquires Real Time Products Ltd
Telelogic acquires Real Time Products Ltd Acquisition increases Telelogic's global presence MALMÖ, Sweden, September 8, 1999 - Telelogic AB (Stockholm Stock Exchange: TLOG), today signed a contract to acquire all the shares of Real Time Products Ltd., Birmingham, UK. "Telelogic is pursuing an aggressive growth strategy, as evident from today's news," declared Anders Lidbeck, president and CEO of Telelogic. "Our acqui- sition of Real Time Products not only provides us with consultants who have experience in the UK telecoms industry, but it also doubles our sales force. Real Time Products supplies products and services that complement our own fam- ily of products, Telelogic Tau. This signed agreement is in line with our goal of becoming a leading supplier of complete solutions for real-time communica- tion systems." "Our company has extensive experience and occupies a strong position in the UK market," said David Hann and Ian Russell, the former owners of Real Time, who will now be in charge of Telelogic's UK business activities. "Since we already offer supplementary solutions used with Telelogic software development tools, it was a natural progression to combine these two companies. One prod- uct that we will not continue to market, however, is Verilog's software devel- opment tool, for which Real Time Products is currently the UK distributor," Ian Russell concluded. Telelogic plans to merge its UK-based subsidiary with Real Time Products this autumn. Company officials believe the acquisition will have a positive affect on profits in the first year. At the request of the seller, financial terms of the acquisition are not being divulged. About Real Time Products Real Time Products supplies products and services for the development of real- time applications. The Company has 27 employees, and expects sales for 1999 to reach more than £2.7 million (approx. $4.2M), with a good rate of profitabil- ity. The Company is based in Birmingham. Its customers include companies such as Marconi Electronic Systems, Ericsson, Hewlett-Packard, British Aerospace, Lucent, Motorola and Nortel Networks. About Telelogic AB Telelogic is the world's leading supplier of visual software development and test tools for real-time communicating systems. Telelogic Tau is comprised of tools for analysis, design and testing of event-driven, real-time applica- tions. Telelogic also provides a host of consulting services focused in the real-time arena. Customers include Alcatel, Cisco, Ericsson, Fujitsu, Hewlett- Packard, Lucent Technologies, Motorola, NEC, Nokia, Nortel Networks, Siemens and a number of universities and institutions worldwide. Headquartered in Malmö, Sweden, Telelogic's world- wide presence includes sales and service offices in Asia, Europe and North America. Information about Telelogic and its products can be found on the World Wide Web at: http://www.telelogic.com. Telelogic is a registered trademarks of Telelogic. All other products are the trademarks, service marks, or registered trademarks of their respective holders. For Immediate Release Contacts: Håkan Ripper General Manager, Professional Services Telelogic AB Phone: +46 40 174700 hakan.rippe@telelogic.com David Hann Ian Russell Joint MD - Telelogic UK, RTP Joint MD - Telelogic UK, RTP Phone: +44 121 234 6600 Phone: +44 121 234 6600 david.hann@rtp.co.uk ian.russell@rtp.co.uk ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/09/08/19990908BIT00230/bit0001.doc http://www.bit.se/bitonline/1999/09/08/19990908BIT00230/bit0002.pdf