Swedish IT company Prevas has signed a letter of intent to acquire Kasmatic Innovation, a Danish company specialising in developing customised electronics and software, for an undisclosed sum. Prevas entered the Danish market just 18 months ago via acquisition of Glaze and IO Technologies. The new deal will give Prevas an attractive customer portfolio, key competences and access to close collaboration with the Technical University of Denmark (DTU); Kasmatic Innovation is based at the Scion science park at DTU.
Michael Carl, managing director of Prevas in Denmark says: "The close association with the research environment gives us access to additional competences and resources, and will certainly strengthen our development. The interplay between research and applied technology is very important. The closeness to the research environment guarantees that we can supply innovative solutions based on the latest development trends."
The acquisition will expand Prevas' customer portfolio with companies including Ambu, Cappit, Geopal System, Hærens Materiel Kommando [Armed Forces Procurement Executive] and Laerdal.
Allan Berg, managing director of Kasmatic Innovation comments: "Since 1997, Kasmatic Innovation has seen strong progress on the Danish market, which has been achieved through our specialisation in the university and research environment. Via the collaboration with Prevas, we will gain access to an even larger market, and I have great expectations of the rewards both our companies can reap from the merger."
The news was reported by idag.dk.