LONDON IAR Systems has signed a strategic agreement with a leading European-based semiconductor manufacturer for development, maintenance and licensing of software development tools.
Due to confidentiality clauses, neither the semiconductor company nor the exact field of business of this division are being disclosed.
IAR Systems (Uppsala, Sweden) will develop a new product in its IAR Embedded Workbench product line in 2006 for the agreement that covers maintenance and software licensing to the end of 2009. The revenues from the order should be worth around 8.3million SEK (about $1.05million) from 2006 to 2009 with 4.65million SEK being paid in 2006.
IAR Systems has been co-operating with other divisions of the semiconductor company over a number of years, and this deal strengthens the strategic relationship between the parties.
Olle Eriksson, CEO and President of IAR Systems, said, “This order gives us additional strength as we enter into 2006. I am not only talking about the financial aspects — it is also a proof of our industry leadership.”