Acquisitions boost Eurotech - Embedded.com

Acquisitions boost Eurotech

LONDON — Eurotech SpA (Amaro, Italy), the embedded computers developer that owns Arcom, Parvus, Applied Data Systems and Advanet increased its fourth quarter revenues by 66.1 percent to €26.31 million and its annual revenue up 50.8 percent to €76.53 million.

The increase reflects the effect arising from acquisition of Applied Data Systems Inc. in January 2007 and the Japanese group Advanet in October 2007.

Group profits in the fourth quarter amounted to €13.29 million (up 58.6 percent on the same period last year) accounting for 50.5 percent of revenues.

In December Eurotech invested in unmanned aerial vehicles (UAV) with the acquisition of 21 percent of the share capital of UTRI SpA. One year after the acquisition of 20 percent of the capital of Kairos Autonomi, this operation completes Eurotech's technology offering in the UAV sector.

UTRI (Unmanned Technologies Research Institute) operates in the market for micro and mini autonomous aerial vehicles (unmanned and capable of independent decision-making) for the aerospace and defence sectors.

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