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Acquisition makes Prevas the embedded systems leader in Denmark

As part of its continued expansion in Denmark, Prevas has signed a Letter of Intent to acquire IO
Technologies A/S. The merger with Prevas´ current operations in Denmark will result in a subsidiary with a 60 employees and annual sales of SEK 50 million. This will make Prevas the leading supplier of embedded systems in Denmark and further solidify its position as the Nordic leader in the sector.

Embedded systems are a key component in rising numbers of common products like cell phones, home electronics, cars, and aircraft. The embedded systems supplied to customers by IO Technologies have been used for everything from wireless personal sports instruments to research projects for advanced signal processing of ultrasound. The company´s customers include Brüel & Kjaer, Radiometer, Danfoss, Grundfos, and Vestas.

IO Technologies is a technically leading R&D house for customized electronics and software. The company provides the entire product development chain from idea to production. In addition to supplying complete projects, IO Technologies provides leading-edge software and electronics expertise. The company has developed a portfolio of ready-to-use electronics and software modules that streamline customer R&D and minimize time to market. IO Technologies is expanding rapidly and has 35 employees in Copenhagen and Århus. The company is forecasting sales of SEK 29 million in 2006.

Prevas´ operations in Denmark are in a phase of strong growth and profitability. Sales and the workforce both doubled in the last year. The company is expected to have 25 employees by year-end. The business was based on the acquisition of Glaze A/S in early 2006.

“With the acquisition of IO Technologies, Prevas will enhance its already fast growth in Denmark and the Öresund Region. IO Technologies' strong module portfolio will contribute to making Prevas the obvious center of R&D for modern and technically advanced products," says Anders Englund, CEO of Prevas.

“IO Technologies has achieved great market success and strong growth since the beginning in 1997. The merger with Prevas will give us the capacity to continue our expansion in Denmark at an even faster rate, while our modules and technology platforms will gain access to an efficient organization enabling further growth in the Nordic region and internationally. Prevas´ corporate culture, size, and strong history ensure a good fit and smooth integration of IO Technologies´ business," says Gert Hansen, a principal stockholder at IO Technologies.

About Prevas

Prevas develops intelligence in products and industrial systems. Prevas is a project-oriented, hi-tech IT company. The company offers consultancy services, products and support to companies developing products with a large IT content or which need to streamline or automate their business. Prevas solutions are renowned for their reliable delivery and quality.
Prevas is listed on the Stockholm Stock Exchange.
See also www.prevas.se.

About I/O Technologies A/S

Founded in 1997, IO Technologies is one of Denmark´s leading companies in the field of advanced electronics development. IO Technologies´ R&D offices in Copenhagen and Århus are made up of experienced engineering teams oriented toward electronics and software design, embedded systems, and signal processing. You are invited to visit IO Technologies online at www.iotech.dk.

Kontakt Prevas A/S for mere information:

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