GIMV finalises takeover OTN

01-07-2008 13:00

GIMV announces that it has finalised the takeover of OTN, which was already reported earlier on in June. GIMV purchases OTN from Nokia Siemens Networks. The 80 OTN employees will be transferred to OTN Systems NV, a newly formed company established by GIMV and the OTN management.

OTN (Open Transport Network) is a flexible communications network based on optical fibres. The OTN network is possibly the most performant multiplexer that currently exists for industrial uses., The system permits all kinds of applications such as video images, different forms of speech and data traffic, information for process management and the like to be sent flawlessly and transparant over a practically unlimited distance. The system is used in vast, private networks with a great diversity of communication requirements, such as subway systems, pipelines, the mining industry, tunnels and the like. OTN has a strong international presence, an experienced team and a stable business.

GIMV purchases OTN from Nokia Siemens Networks. The OTN team of approximately 80 people will be transferred to OTN Systems NV, a newly formed company owned in majority by GIMV. In the new set-up as a stand-alone company, GIMV’s first priority is to ensure a smooth transition of the OTN business.

Together with the management and personnel of OTN, GIMV wants to grow the stand-alone company by investing in the product portfolio, extending the sales and distribution reach and filling the gaps in the support functions. Besides this focus on internal growth, add-on acquisitions may be explored in order to ensure the new company’s future leadership position.

No financial details will be disclosed.

For more information, please contact:
Mr. Frank De Leenheer – Investor Relations & Corporate Communications Manager GIMV
Tel: +32 3 290 22 18 – E-mail: frankdl@gimv.be
Mr. Bart Diels – Investment Director GIMV
Tel: +32 3 290 21 55 – E-mail: bartd@gimv.be

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