Enea Acquires Swedish Software Company ZealCore

Logistics Insight Asia - Industry News, 3/7/2008

Enea has announced the acquisition of the Swedish software company ZealCore Embedded Solutions AB. With ZealCore Enea enhances its competitive tools offering and acquires valuable patented technology. ZealCore is the second technology acquisition in a short time period for Enea.

ZealCore is well-known for its debugging system, a software for accelerated troubleshooting of embedded software systems. The code is patented and features a black box functionality for CPU-system, tracing and tracking bugs. The debugger, record and playback technology is used in the development of embedded solutions for trains, telecom platforms and industrial automation.

ZealCore products complements Enea's tools offering with new functionality for system debugging and enhanced graphical overview; applications that show an increased demand from the embedded industry. The investment is in line with Enea's long term strategy to offer complete integrated solutions with software, services and third part products for embedded systems.

ZealCore has five employees. Projected net sales for 2008 are SEK 5.5 million (EUR 0.6 million). Customers are market leaders within telecom, transportation and industry automation, like ABB and Bombardier.

Enea acquires all shares in ZealCore for an undisclosed amount. An additional payment based on ZealCore's sales performance 2008 will take place. Sellers are KTH Chalmers Capital, SEB Venture Capital, Industrifonden and the two founders, Henrik Thane and Kristian Sandström, who remains in the company. The deal is completed on July 1.

Enea, www.enea.com.