Product category:
PC-Compatible Boards and Assemblies
News Release from: SBS Technologies
Edited by the Electronicstalk Editorial
Team on 04 July 2003
Canadian acquisition improves SBS image
SBS Technologies has completed the acquisition of Avvida Systems, a formerly privately held company located in Waterloo, Ontario, Canada.
SBS Technologies has completed the acquisition of Avvida Systems, a formerly privately held company located in Waterloo, Ontario, Canada The purchase price of the acquisition was $5.5 million, plus transaction costs, and was funded with a combination of existing cash and SBS stock
This article was originally published on Electronicstalk on 19 Aug 2002 at 8.00am (UK)
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Avvida will now do business as SBS Technologies (Canada).
Avvida specialises in developing imaging solutions for commercial, military and communications applications.
Avvida's products are based on FPGA-centric computing that provides system on a chip functionality.
This technology is capable of being applied to many products within SBS' existing product portfolio to create new products for image processing and embedded visualisation applications.
"We have targeted adding FPGA-based image processing capabilities into our offering for some time, and we are pleased that Avvida provides that strategic fit for SBS and our customers", said Clarence W Peckham, Chief Executive Officer of SBS.
"The acquisition of Avvida is a critical initiative in our strategy to provide a full range of innovative embedded computing solutions to the government, commercial, communications and enterprise markets", added Peckham.
Ronald E Strauss, Vice President of SBS Canada and cofounder of Avvida, said: "We are excited about the opportunity to complement SBS' embedded computing products with our own.
SBS is an established supplier to the embedded computer market, and we share a common commitment to providing world class, high performance computing solutions to our customers.
With the additional sales, marketing and engineering resources of SBS, we expect to expand our market position in all of SBS' markets", continued Strauss.
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