ICT increases stake in LINEAS Automotive to 80%

03/07/2008

ICT Automatisering (“ICT”) announces that it increased its stake in the German company LINEAS to 80% from 60%.

LINEAS is active in the field of developing future-oriented software solutions for control equipment, communication platforms and multimedia architecture in the Automotive market. The increase of the stake is part of ICT’s strategy to further expand its operations in Germany. The ICT Group already has several branches in Germany.

LINEAS, founded in 2001, realised sales in 2007 of more than EUR 8 million. As of 1 January 2008, the company employed 100 people. The acquisition will be financed from ICT’s available resources. It is the intention to acquire the remaining 20% stake of LINEAS in the coming years.