ICT increases stake in LINEAS Automotive to 90%
08/19/2008
ICT Automatisering (“ICT”) announces that it increased its stake in the German company LINEAS Automotive GmbH to 90% from 80% as per 1 July 2008. 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 8 branches in Germany.
It is the intention to acquire the remaining 10% stake of LINEAS on 1 January 2009.