Eurotech: Acquisition of California Company Dynatem Inc.

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May 23, 2011, 01:55 ET

AMARO, Italy, May 23, 2011 /PRNewswire/ -- Eurotech, a leading supplier of embedded technologies and pervasive computing devices, announces that on May 31st it will finalize the acquisition of Dynatem Inc. The acquisition will be included in the consolidation perimeter of the Group starting from June 1st.

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Dynatem Inc., based in Mission Viejo, California, has operated since 1981 in the embedded computing market and specifically in the VME, VPX and CPCI boards segment, with a turnover in 2010 of about USD 3.6 million.

Eurotech will acquire 100% of the share capital of Dynatem Inc. for an enterprise value of approximately 1.9 million USD (1.3 million Euro). The transaction will be settled in cash.

"With the acquisition of Dynatem we will consolidate our presence in the United States, adding the West Coast to our geographical footprint, and we will acquire expertise and know-how on the emerging VPX standard," said Roberto Siagri, President and CEO of Eurotech. "The long tradition of this company on VME and CPCI platforms will also give us the possibility to create further synergies between US and Japan."

ABOUT EUROTECH

Eurotech (ETH.MI) is a global company based in Italy and with offices and subsidiaries in Europe, North America and Asia. The Eurotech group develops and markets miniaturised computers for special use (NanoPCs) and computers featuring elevated computing capacity (HPCs – High-Performance Computers). With these two product categories, Eurotech aims to become a leader in the implementation of pervasive computing, which, leveraging on Cloud IT infrastructure, is capable of enabling an entire range of value-added services and functions in the transport, logistics, defence, industrial and medical.

SOURCE Eurotech