| Enea acquires Swedish Linux expertise |
Mar. 29, 2007
Telecom software and services provider Enea has acquired QiValue Technologies, a small Swedish company specializing in embedded and enterprise Linux development and training services. Enea said the deal will bolster its Linux expertise, strengthen its software offering, and increase its ability to offer embedded Linux solutions.
Enea paid SEK 8 million (approx. $1.2 million) for QiValue, with possible additional payments, depending on QiValue's financial performance through 2009. It expects the deal to contribute SEK 14 million (approx. $2 million) in revenue during the year ahead, while also adding to margins.
QiValue has 13 employees. The company offers Linux development and training services, primarily to equipment makers in the telecom and medical industry, Enea said. QiValue's embedded expertise includes systems based on FPGAs (field-programmable gate arrays), and its Linux-related training courses appear to include coverage of Red Hat, SUSE, Debian, and general embedded Linux, and Mono.
Enea CEO Johan Wall stated, "Enea's acquisition of QiValue adds valuable Embedded Linux competence that will strengthen both our software products and services capabilities. Embedded Linux is a key component of our Accelerator platform, which allows telecom equipment manufacturers to more efficiently provide carriers with converged network solutions."
Anders Tonqvist, CEO of QiValue, added, "QiValue provides Enea with Linux competence as well as new customers. Together we will have the ability to further increase the sales of embedded Linux solutions."
At its annual general meeting last May, Enea's board authorized itself to issue a large number of shares, worth up to $60 million, "for the purpose of acquisitions."
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