Prevas, a Swedish high-tech company specialising in development of intelligent products and industrial systems, has signed a letter of intent to acquire IO Technologies, a leading Danish firm in electronics development. 11 months ago, Prevas acquired Glaze, a Danish development house, and will now merge IO Technologies and Glaze into a new shared company. The acquisition of IO Technologies is expected to be completed by end of this year.
IO Technologies has had a long-term research collaboration with the Technical University of Denmark regarding development of the next generation of ultrasound scanners and wireless technologies, a collaboration which Glaze expects a lot from.
Michael Carl, managing director of Glaze comments: "We are generally very interested in collaborating with educational institutions and universities. We would like to be part of developing technologies which are at the forefront, and that type of collaboration also provides the opportunities to recruit the best minds."
IO Technologies and Glaze clients include Danfoss, Grundfos, Novo Nordisk, Sony Ericsson, Oticon, Texas Instruments, Vestas, Radiometer, GN Netcom and Brüel & Kjær. The news was reported by Computerworld.