Enea Acquires QiValue Technologies
STOCKHOLM, Sweden & SAN JOSE, CA.-- Enea, a world leading provider of telecom software and services, today announced that is has acquired Swedish QiValue Technologies, a leading provider of Linux solutions. The acquisition will bolster Enea's Linux expertise, strengthen its software offering, and increase Enea's ability to offer embedded Linux solutions. Enea expects the acquisition to contribute SEK 14 million (MUSD 2) of additional revenue as well as a positive margin during 2007.
QiValue, with 13 employees, offers Linux services to equipment makers in the telecom and medical industry and specializes in development of Linux based embedded platforms and Linux training.
"Enea's acquisition of QiValue adds valuable Embedded Linux competence that will strengthen both our software products and services capabilities," said Johan Wall, president and CEO of Enea. "The QiValue team makes an excellent addition to our world-class service organization and Embedded Linux is a key component of our Accelerator platform, which allows telecom equipment manufacturers, to more efficiently, provide carriers with converged network solutions."
The consideration amounts to SEK 8 million (MUSD 1.2) with possible additional payments depending on QiValue financial performance until 2009.
"QiValue provides Enea with Linux competence as well as new customers and together we will have the ability to further increase the sales of Embedded Linux solutions", said Anders Törnqvist, president and CEO of QiValue.
About Enea
Enea (STO:ENEA)(Nordic Exchange/SmallCap/ENEA) is the leading supplier of real-time operating systems, middleware, development tools, database technology and professional services for high-availability systems such as telecommunications infrastructure, mobile devices, medical instrumentation, and automobile control/infotainment. Enea's flagship operating system, OSE(TM), is deployed in approximately half of the worlds 3G mobile phones and base stations. Enea has over 500 employees and is listed on the Nordic Exchange. For further information on Enea, please visit www.enea.com.
About QiValue Technologies QiValue is a professional services company focusing on Linux solutions and training, primarily for the embedded market. QiValue is based in Stockholm, Sweden.
For further information on QiValue, please visit www.qivalue.com.
