Business Services Industry
Kongsberg Gruppen ASA acquires Canadian company Gallium Software Inc
Nordic Business Report, Dec 2, 2005
NORDIC BUSINESS REPORT-2 December 2005-Kongsberg Gruppen ASA acquires Canadian company Gallium Software Inc(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
The Norwegian high-tech group Kongsberg Gruppen ASA said on Friday (2 December) that its unit Kongsberg Defence & Aerospace has agreed to acquire the Canadian software developer Gallium Software Inc.
The debt-free consideration amounts to NOK174m.
Gallium Software develops graphics tools for military command and control systems. The company has 65 employees in Ottawa, and reported a turnover of NOK69.6m in 2004.
"Command and control systems represents one major core competency at Kongsberg Defence & Aerospace, and Gallium will be a positive contribution in that area. Meanwhile, the acquisition of Gallium will also enhance the group's surveillance system activities for civilian and military markets alike," Kongsberg Gruppen said.
One Norwegian krone (NOK) is worth approximately 0.09 British pounds (GBP).
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