STOCKHOLM, Sweden, January 8, 2016 – Enea® (NASDAQ OMX Nordic:ENEA) acquires network management system vendor Centered Logic LLC.
Growing traffic volumes and increased network complexity, including Network Function Virtualization (NFV), drive the need for sophisticated and effective network management systems with high demands on functionality, scalability, performance, and reliability.
Centered Logic LLC is an established contender in the network management and service orchestration market, providing solutions for effective management of both traditional and virtualized networks. With its software platform ElementCenter, Centered Logic enables operators, network equipment manufacturers, NFV developers and systems integrators to quickly develop network management solutions for physical as well as software defined networks (SDN). Based in Nashua, New Hampshire, U.S., the company has already today customers both within and outside the US.
“I am happy to announce the acquisition of a small but fast growing and very interesting extension of our offering in the area of management and orchestration of physical and virtualized networks. Together with our existing Enea Element product line, ElementCenter will also add to the capabilities of our Enea COSNOS platform for developing and managing next generation network functions”, said Anders Lidbeck, President and CEO, Enea.
Enea will acquire the business assets of Centered Logic LCC, including its three employees and founding team and the IP rights to the ElementCenter product. “We are very excited to become a part of Enea,” said John Wagner, CEO of Centered Logic, LLC. “We believe the model-based architecture of the ElementCenter platform is a powerful and complementary addition to Enea’s suite of products for the networking industry, providing its customers with a unique end-to-end solution to challenges in management, virtualization, and orchestration.”
The acquisition of Centered Logic is expected to add a small positive contribution to the earnings of the Enea group during 2016. The purchase consideration consists of an upfront payment of 1.3 MUSD and an earn-out component over three years corresponding to the development of the acquired business, capped at 2.2 MUSD. The transaction is estimated to be completed in January 2016.
This is information of the type that Enea AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on January 08, 2016 at 07:20 CET.
For more information visit www.enea.com/investors or contact:
Anders Lidbeck, President & CEO
Fredrik Medin, SVP Marketing and Communication
Phone: +46 709 71 40 11
Enea is a global supplier of network software platforms and world class services, with a vision of helping customers develop amazing functions in a connected society. We are committed to working together with customers and leading hardware vendors as a key contributor in the open source community, developing and hardening optimal software solutions. Every day, more than three billion people around the globe rely on our technologies in a wide range of applications in multiple verticals – from Telecom and Automotive, to Medical and Avionics. We have offices in Europe, North America and Asia, and are listed on NASDAQ OMX Nordic Exchange Stockholm AB. Discover more at www.enea.com and start a conversation at firstname.lastname@example.org.
Enea®, Enea OSE®, Netbricks®, Polyhedra® and Zealcore® are registered trademarks of Enea AB and its subsidiaries. Enea OSE®ck, Enea OSE® Epsilon, Enea® Element, Enea® Optima, Enea® Optima Log Analyzer, Enea® Black Box Recorder, Enea® LINX, Enea® Accelerator, Polyhedra® Lite, Enea® dSPEED Platform, Enea® System Manager and Embedded for Leaders(TM) are unregistered trademarks of Enea AB or its subsidiaries. Any other company, product or service names mentioned above are the registered or unregistered trademarks of their respective owner. © Enea AB 2015.