IMBERA REACHES NEW DEVELOPMENT PHASE – ASPOCOMP REDUCES ITS HOLDING IN THE COMPANY
Aspocomp Group Oyj Investor News April 17, 2007 at 08:15 am
Technology development of Imbera Electronics Oy, the R&D joint venture of Aspocomp Group Oyj and Elcoteq SE, has reached industrialization and commercialization stage. The companies have signed and closed a transaction to broaden Imbera’s ownership base, extend its exposure to the market and secure its financing. The company’s new financiers and major owners are funds managed by Index Ventures, Northzone Ventures and Conor Venture Partners.
The funds will invest in Imbera Electronics Inc, a new US-based parent company of Imbera Electronics Oy incorporated for this investment. Aspocomp and Elcoteq will remain Imbera’s minority shareholders through a share exchange with Imbera Electronics Inc.
After the arrangements, Aspocomp and Elcoteq each will own approximately 15 percent of Imbera’s share capital. Prior to the arrangement, both had 50 percent ownership in the company. Aspocomp has signed a 10 year worldwide manufacturing license agreement for the current Imbera technology.
The ownership arrangement will have no impact on Aspocomp’s financial result. Imbera’s operative management will remain unaffected and gain minority ownership in the company.
Imbera Electronics Oy was set up jointly by Aspocomp and Elcoteq in 2002 to develop the Integrated Module Board assembly technology.
For further information, please contact Maija-Liisa Friman, CEO, Aspocomp Group Oyj, tel. +358 9 7597 0711.
ASPOCOMP GROUP OYJ
President and CEO
Aspocomp: Innovative interconnection solutions for the electronics industry
The Aspocomp Group offers and develops innovative interconnection solutions for the electronics industry in close cooperation with its customers. We are strongly positioned as a supplier of mobile data terminal equipment components and aim to further bolster our position as a supplier to the automotive industry and data communications networks. We offer our global customers a fast road to mass production through flexible and cost-effective adaptation of new technologies.
The Aspocomp Group’s production facilities are located close to its customers in Finland, China, and Thailand. In 2006, the Group’s net sales stood at EUR 149 million and it had about 3,350 employees.
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