esmertec signs agreement to acquire mobile software platform activities from Sagem Mobiles, supporting growth and strategic positioning

July 31, 2008

1 Min Read

DUEBENDORF-ZURICH, Switzerland -- Esmertec(tm) (SWX:ESMN), a leading edge provider of software platforms, applications and services to communication device manufacturers and mobile telecom operators, is pleased to announce that it has entered into agreement with Sofinnova Partners and Safran as shareholders of Sagem Wireless (company to be incorporated) to acquire Sagem Mobiles' software platform activities. This transaction is subject to approval of employee representative bodies.

"For the first half of 2008, under challenging market conditions, we anticipate to achieve a first time positive EBITA (subject to the final review by the Auditors) with a revenue above USD 17.5 million, paving the way to reach out for profitability for the full year 2008," said Thomas Hornung, Esmertec's CEO. "In order to proactively cope with these challenges, Esmertec has been aiming to increase its footprint in the software stack of a mobile device and consequently to raise its value per shipped device. Therefore, the acquisition of Sagem Mobiles' software platform activities brings Esmertec to the next stage, strengthening its position as a software and services provider for the wireless and converging consumer electronics industry. By greatly diversifying its products and services portfolio, Esmertec is creating additional business opportunities which will support its growth for the coming years."

esmertec AG

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like