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March 07, 2006
Sweden’s Telelogic AB acquires VC-backed I-Logix
Swedish embedded systems developer Telelogic is paying $80 million in cash to acquire I-Logix, a US based company that provides an additional technology product for Telelogic’s embedded systems business. The price paid is about 26 times last year’s profit of $3M. In the same year I-Logix sales grew by 30 percent and sales reached $30M, the a:c euro confirmed with Telelogic this morning.
According to press information on I-Logix website, the firm had several investors including Phillips Ventures BV, Needham Capital Partners, ABS Ventures, Commonwealth Capital Ventures, Gilde Investments, One Liberty Ventures and North Bridge Venture Partners.
Posted on March 7, 2006 07:44 AM | Posted to Hardware | Permalink
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