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  7. Finland Nice to Bolster up its R&D Operations

Finland Nice to Bolster up its R&D Operations

Fujitsu Services Oy

joulukuuta 28, 2006

Nice-business Solutions Finland Oy (Nice), a software services company owned together by Fujitsu Services Oy and Nokia Oyj, has acquired the entire share capital of the Oulu based Embe Systems Oy from Stonesoft Oyj.

Embe is set to become a Nice business unit in charge of R&D subcontracting operations, which will expand Nice's service range and enhances Nice's capability of providing excellent services to large customers.

All Embe's 73 employees remain in the company with their CEO Hannu Kyllönen as unit head. He has also been appointed board member of Nice.

"Uniting forces with Embe allows us to offer our customers extended services and comprehensive software solutions," says CEO Jouko Seppä of Nice.

"Traditionally, Nice's strength lies in server applications and technologies, while Embe is known as a strong expert in embedded software. By combining these spheres of expertise our ability to provide added value to our customers will further increase," Seppä continues.

"As part of Nice we will be able to advance our previously started development projects more effectively and develop our project delivery process. In addition, we will further strengthen our position as a Symbian supplier, for example," says CEO Hannu Kyllönen of Embe.

Along with the acquisition, Nice's pro forma net sales for the fiscal ending 31 March, 2007 will amount to in excess of 40 million euros and headcount to almost 250. Together with Embe, Nice is a significant software development partner for Nokia, working in collaboration with Nokia IT development and product development organisation.

The total purchase price of Embe's share capital to be paid in cash amounts to the maximum of 4.65 million euros. The purchase price consists of a fixed purchase price and a purchase price that is tied to the profit for 2007. The share of the fixed purchase price amounts to 3.63 million euros.

Further information:
Nice-business Solutions Finland Oy, CEO Jouko Seppä, tel. +358 50 500 2115
Embe Systems Oy, CEO Hannu Kyllönen, tel. +358 400 757 829

Date: 28 joulukuuta, 2006