Nordic Business Report-September 28, 2006-Data Respons ASA acquires Embedit A/S
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The Norwegian embedded solutions developer and provider Data Respons ASA said on Wednesday (27 September) that it has acquired Danish company Embedit A/S.
The purchase consideration comprised a fixed sum of DKK30m and additional payments based on future performance.
Embedit, based in Copenhagen, is the Danish market leader in embedded solutions. The company has 35 employees and is expected to achieve an operating profit of DKK6m on revenues of DKK50m in 2006.
"Embedit will raise Data Respons' expertise as well as shift us from our current position as challenger to a leading player within the embedded market in Denmark. Embedit complements Data Respons well and will contribute heavily to the strong growth rate we are experiencing in Denmark," commented Kenneth Ragnvaldsen, CEO of Data Respons.
One Danish krone (DKK) is worth approximately 0.09 British pounds (GBP).
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