ICT announces intended takeover of German company LINEAS Automotive
03/07/2007
ICT Automatisering N.V. (ICT) announces that it has signed a letter of intent regarding the takeover of a 60% stake in the German company LINEAS Automotive GmbH (LINEAS).
LINEAS is active in the field of developing future-oriented software solutions for control equipment, communication platforms and multimedia architecture in the Automotive branche. The planned takeover is part of ICT’s strategy to further expand its operations in Germany. The ICT Group already has establishments in Karlsruhe and Munich.
The LINEAS company, founded in 2001, realised sales in 2006 of EUR 5.6 million. As of 1 January 2007, the company employed 66 people. It is expected that LINEAS will directly contribute to ICT’s earnings per share.
ICT will finance the acquisition of the 60% stake by own resources. It is the intention to acquire the remaining 40% stake of LINEAS in the coming years.
About LINEAS
LINEAS Automotive GmbH develops future-oriented software solutions for control equipment, communication platforms and multimedia architecture in the Automotive branche.
They develop customized software solutions and assist their clients in this from the first concept to the end product. LINEAS has years of experience and considerable technical leadership in, for example, the following fields:
- Development of control equipment (for example fly cords, convenience electronics and infotainment/multimedia).
- Design and development of complex yet flexible software architecture – e.g., for infotainment systems in motor vehicles according to AUTOSAR guidelines
- Integration, adaptation and expansion of new components in existing systems
- Telemetry systems for transferring useful info and measurement data to and from transmitters
- Implementation of infotainment systems using fast and highly integrated development environments.
LINEAS has branches in Wolfsburg, Braunschweig, Nürenberg, Munich and Stuttgart.