Enea®, (Nordic Exchange/Small Cap/ENEA), a world leading provider of network software and services, today announced that it has signed an agreement to acquire IP Devel SRL. The acquisition of IP Devel provides Enea with a base on which to expand its European business and it also secures development capacity for its own products.
IP Devel is specialized in embedded systems development and advanced test services. The company is profitable and has grown quickly since 2000. Net sales for 2007 were approximately EUR 4 million. Enea is, since 2006, one of IP Devel's largest customers and partners. IP Devel has about 120 employees and is based in Bucharest.
"IP Devel is a well-run and profitable company with good growth and great customers. We thoroughly know IP Devels' top expertise in embedded technology and are thus very pleased with the acquisition", says Johan Wall, CEO and president, Enea. "With IP Devel we grow Enea's professional services offer in Europe. With the acquisition we also secure Enea's, and our customers', future development capacity in a low cost environment."
