Advised Elektrobit Group on the divestiture of its Network Test Business
Nov 2006
acquired by
$124 million
  • Sector: Industrial Tech; Systems & Deep Tech
  • Deal Type: Strategic Deals; Public Deals
  • Engagement type: Sellside
  • Size: $124 million

– Nemo Technologies is the Network Test business of Helsinki-listed Elektrobit (HEL: EBG1V)

– Nemo develops, produces and sells software-based testing and monitoring solutions for the measurement and analysis of the quality of air interface between mobile terminals and radio access infrastructure

– Nemo employs 61 people in Finland, USA and Asia

– Anite (LSE: AIE) is an international IT company which provides software, systems integration, consultancy and managed services to the travel, telecoms, finance and public sector markets

– The company offers complete services including implementation, systems integration, maintenance and managed services

– Headquartered in the UK, the Group employs around 1,300 staff in ten countries across Europe, America, and Asia Pacific

– The disposal of Nemo enables Elektrobit to focus on its core activities of R&D services for the automotive and smartphone markets

– The acquisition of Nemo will strengthen Anite’s position in the wireless testing solutions sector, helping the company to expand its geographical coverage, increase customer penetration and out its
telecoms testing offerings at the core of its business

– The acquisition is expected to be accretive to Anite during its first full year of ownership (FY2008)

– Arma Partners was engaged by Elektrobit to dispose of its Nemo Technology division and ran a restricted auction amongst likely industrial and private equity buyers

– Arma Partners introduced Anite to Nemo as part of this process

– Arma helped to maximise value for the business with an exit multiple of 4.3x historic revenue – the highest exit multiple ever in the sector

– The share prices of both Elektrobit and Anite rose on announcement