Prevas grows in embedded systems, signs LOI on acquisition of specialist company in Karlskoga

Embedded systems are an important component of almost all advanced products in our everyday lives, including cellular phones, home electronics, cars and airplanes. Zetiq Development has very extensive experience in the electronics industry. The company has 15 employees in Karlskoga, and its business is based on assignments from external European customers such as AIMS, Öhlins and a very prestigious racing team.
 
"The trend to make the development process for products more efficient continues. It is of increasing importance to develop products more quickly and at a lower cost. There is a growing demand from our customers to provide them with this type of competitive advantage. For this reason, it is strategically important that Prevas strengthen its offering and presence in Värmland, the western part of Sweden and Norway," says Jonas Mann, Business Area Manager Product Development at Prevas.
 
Zetiq Development specializes in embedded systems and primarily focuses on electronics development and hardware-related programming for a variety of industries. The company offers top expertise within sensor applications, and its profile complements Prevas' business very well. 
 
"We look forward to joining Prevas and helping strengthen the company's development in the area of embedded systems. We are a good complement to Prevas, and the acquisition will enable us to improve our offering to both employees and customers. In addition, the corporate culture and focus at Prevas are quite similar to those at Zetiq, which should make for a smooth integration process," says Magnus Edman, President of Zetiq Development.
 
Prevas is a leader in the areas of software, electronics and mechatronics for embedded systems. Since 1985, we have developed over 4,000 products, several of which have helped our customers to become global leaders in their respective fields. Our job is to provide solutions that create growth — for our customers and the industry.

For more information:

Jonas Mann, Business Area Manager Product Development Prevas AB               
E-mail: jonas.mann@prevas.se, Cell: +46 (0)70-379 06 69
 
Mats Lundberg, President and CEO Prevas AB
E-mail: mats.lundberg@prevas.se, Phone: +46 (0)8 726 40 02, Cell:+46 (0)733-37 75 40

Magnus Edman, President Zetiq Development AB
E-mail: magnus.edman@zetiq.se, Phone: +46 (0)586-222 338, Cell: +46 (0)76-104 32 33

About Prevas
With cutting edge expertise in embedded systems and industrial IT, Prevas contributes by providing innovations that create growth. Prevas was founded in 1985 and is the main supplier and development partner to leading companies in industries such as life science, telecommunications, vehicle, defense, energy and engineering. Offices are located in Sweden ,Denmark ,Norway , theUnited Arab Emiratesand India. The company has just over 550 employees. Prevas has been listed on the NASDAQ OMX Nordic Exchange in Stockholm since 1998.