Averna acquires Mindready assets
-- Test & Measurement World, 2/27/2008 8:41:00 AM
Averna today announced the acquisition of substantially all assets of Mindready Solutions, a move which will expand Averna’s RF and communications product portfolio and will establish a footprint in the European market. Averna purchased these assets with key financial partner Fondaction CSN less than four weeks after Averna’s executive team first investigated the transaction.
Under the terms of the transaction, Averna will acquire all intellectual property, a suite of hardware and software products including the Universal Radio Tester (URT) and SedNet IEEE-1394/FireWire tester. Averna will also acquire a 50-person engineering and management team in Canada and Ireland and a client base of electronic device and telematics manufacturers spread across North America, Europe, and Asia. Post-acquisition, Mindready Solutions will cease to operate as a distinct entity, and Averna will remain a private, Canadian-owned company.
“With a strong virtual instrumentation background to complement our Proligent and test-and-measurement business units, and with the technology partnerships that we have forged, Averna is perfectly positioned to become the ‘IBM of test engineering,’” said Pascal Pilon, president and CEO of Averna.
“It is clear to us that Averna has gained a leadership position in test engineering, and we are glad to become part of this fast-growing and renowned company,” said Christian Moreau, CEO of Mindready Solutions. “I am confident that Mindready clients such as Alcatel, Boeing, Lockheed Martin, Nissan, and Panasonic will benefit from our combined strengths, and that our solutions will see an even wider distribution.”
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