Amaro (Italy) May 23rd, 2011
Eurotech, a leading supplier of embedded technologies and pervasive computing devices, announces that on May 31st it will finalise the acquisition of the company Dynatem Inc, that will be included in the consolidation perimeter of the Group starting from June 1st.
Dynatem Inc, based in Mission Viejo in California, operates since 1981 in the embedded computers market and specifically in the VME, VPX and CPCI boards segment, with a turnover in 2010 of about USD 3.6 million.
Eurotech will acquire 100% of the share capital of Dynatem Inc for an enterprise value of about USD 1.9 million (equal to about Euro 1.3 million). The transaction will be settled in cash.
With the acquisition of Dynatem we will consolidate our presence in the United States, adding the West Coast to our geographical footprint, and we will acquire expertise and know-how on the emerging VPX standard said Roberto Siagri, President and CEO of Eurotech. The long tradition of this company on VME and CPCI platforms will also give us the possibility to create further synergies between US and Japan.