LINKÖPING, Sweden--(BUSINESS WIRE)--Regulatory News:
Saab (STO:SAABB) has signed an agreement to acquire assets from the Czech company E-COM, with its main operations in development and production of virtual simulators. The acquisition strengthens Saab’s product portfolio within training and simulation with a number of new capabilities and services within the virtual domain.
Saab is a leading company within training and simulation. The acquisition of assets of E-COM enhance Saab’s offering within the area of virtual simulation, enabling Saab to offer customers a more comprehensive product portfolio within training and simulation. Training and simulation is one of the core areas of Saab with a strong market position, especially in Europe.
"E-COM has a strong product portfolio and know-how within virtual training and simulation, and it has entered into the international market very quickly. By combining our product portfolios, Saab gains an even stronger position and broadens its market offering of highly effective training solutions," says Henrik Höjer, head of Training & Simulation within the Security and Defence Solutions business area at Saab.
"Saab and E-COM have great technological synergies and Saab has the sales and marketing resources needed in this highly competitive market. I am certain that this is a successful match, guaranteeing both quality and long-term stability," says Ivan Jandl, CEO at E-COM.
E-COM provides products and systems within virtual training and simulation. E-COM has delivered many different simulators to the Czech army and also has an international presence with exports to e.g. the US, Germany, United Arab Emirates and Singapore. E-COM has approximately 120 employees.
E-COM will continue to exist as a company following the acquisition and will, in the reduced format, pursue some of its current operation in close cooperation with Saab.
The acquisition is also strengthening Saab's presence in the Czech Republic, increasing both footprint and brand awareness in the Czech market. Saab runs several significant projects both in the Czech defence and civil security segments. The country is an important market for Saab, and it is considered as a base, enabling expansion of the business into neighbouring Central and Eastern European countries.
The acquisition of assets of E-COM is expected to have no material effect on Saab’s consolidated financial statements in 2011.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adapts and improves new technology to meet customers’ changing needs.
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