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CorporateBelgravium Technologies Plc acquires Novo Ivc Ltd 21 December 2006
Belgravium Technologies Plc acquires Novo Ivc Ltd and signs Co-Operation Agreement with WM-data Oy of Finland
We are pleased to announce that on Friday 13th January 2006 Belgravium Technologies Plc acquired the entire share capital of Novo Ivc Ltd from WM-data Oy of Finland.
This follows Belgravium's acquisition in October 2005 of TouchStar Technologies Ltd, who as you know, manufacture the rugged handheld hardware for Novo Ivc's market leading P.O.S. system for passenger carriers worldwide.
The Co-operation Agreement signed between WM-data and Belgravium reinforces the close relationship for the sales and delivery of mobile P.O.S. and Pro Logistica back office systems to Novo Ivc's customers whilst helping to develop business opportunities in new market areas.
Some of the significant benefits this acquisition and co-operation brings to the Companies and their customers are:-
Creates a bigger unit in the UK with more resources dedicated to the mobile business
More R&D resources and a stronger mobile hardware and software developer with the combination of Belgravium, TouchStar and Novo Ivc.
Improved cost effectiveness with reduced administration and larger volume of operation.
Alignment with WM-data's strategy to concentrate on software solutions.
A natural next step for Belgravium after the acquisition of TouchStar, whilst securing an important sales channel.
Handheld software and hardware development under one roof.
The acquisition and Co-operation Agreement has no immediate impact however on customers or personnel. Novo IVC and WM-data continue to take care of all their commitments as before.
Commenting on the acquisition, Belgravium's Chairman John Kembery said:
"We are particularly pleased to welcome Novo Ivc to the group. This acquisition further increases the scope of our data capture systems, and we look forward to a long association with WM-data. Following on from the successful acquisition of TouchStar, the completion of the purchase of Novo Ivc will support our expansion and growth into new vertical markets and industries".
If you would like any further information on any of the above - please feel free to contact your usual contact person at Novo Ivc or WM-data.
With Best Regards
Bernard Swindells
on behalf of Novo Ivc
bernard.swindells@novoivc.com
+44-1926 831173
Jori Kanerva
on behalf of WM-Data
jori.kanerva@wmdata.fi
+358-400-421070
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