Attention: Customer
Announcement regarding Advanet Group joining the Eurotech Group
Advanet Inc. (Rep. Dir.: Fumio Komatsu, Okayama-shi “Advanet”) and Eurotech S.p.A（President & CEO: Roberto Siagri, Amaro, Italy “Eurotech” ）announced that Eurotech will acquire 65% of the outstanding shares of Advanet and Advanet, including its group companies( “Advanet Group”) has agreed to become a member of the Eurotech Group.
Advanet Group, with its advanced embedded board technology, has shown successful operating performance as a result of building a strong customer base in Japan, while in recent years it has begun to actively develop overseas markets, which are vital to its further growth.
According to the agreement, through the combination of Eurotech and its group’s overseas customer base, globalization will be accelerated, dramatically growing the business of Advanet Group and large synergy benefits can be anticipated by being able to sell Eurotech’s sophisticated products into the Japanese market.
Eurotech, established in 1992, is a company providing miniaturized computers (nano PCs) and high performance computers (HPCs) to a wide range of customers including general industry, defense, transportation, and health care. It is a growing company with headquarters in Italy and listed on the Italian Stock Market in 2005. In recent years it is undertaking global business development by entering the USA and the UK.
For Eurotech, Advanet joining the Eurotech Group will let it be able to target expanded revenue through the sale of Advanet’s high quality, enhanced performance board computer products to existing customers in Europe along with providing Eurotech a large step toward the development of the huge untapped growth in the Asian market.
Eurotech highly values the current management and technical capabilities of Advanet and with regard to its future business development in Japan it has a view to respect the utmost extent the intentions of Advanet. Therefore after joining the Eurotech Group, it has been agreed that the business structure of Advanet Group in Japan will continue as before and that in the future they will be committed to providing high value-added services. Through the mutual exchange of sales information and interchange of product design and R&D of both companies, they will aim to develop new customers and products and are confident that they will be able to develop and provide the best products and services to the customers.
Comments from both companies follow;
•Roberto Siagri Eurotech S.p.A. President and CEO
Roberto Siagri, President and Chief Executive of Eurotech, commented:
“Advanet will allow Eurotech to enter the Japanese market as a major player and to further expand our presence in the Asian market. With this acquisition, Eurotech achieves the crucial size and international presence to position it by right among the world leaders in this sector.
“Advanet's product portfolio and technologies, Siagri added, are fully complimentary to our own and will allow us to further expand our product offerings, with inevitable benefits for all of the Group's clients.”
•Fumio Komatsu Advanet Representative Director
“As managers we always pursued growth and success for the Advanet Group. As a founder, I strongly believe that this agreement allows Advanet Group a huge opportunity to challenge global expansion. To enter the Eurotech Group will enable us to move outside the Japanese market and to be ready to challenge a new larger market and start a new growth phase”.
•Kazuya Kurihara Advanet President
“This alliance with Eurotech will allow Advanet Group to accelerate its globalization and the opportunity to expand its sales on a worldwide basis and to challenge new technologies. Thanks to the synergy from the alliance, I believe that it will enable us to provide our products and services to domestic customers with a higher level of technology than before”.
“We are hoping for our business partners’ continuous cooperation and support to Advanet Group”.
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