JULY 11--SBS Technologies (Albuquerque, NM; www.sbs.com), a designer and manufacturer of embedded computer solutions for the commercial, government, and communications infrastructure markets, has completed the acquisition of Avvida Systems Inc., a privately held company located in Waterloo, Ontario, Canada. The purchase price of the acquisition was $5.5 million, plus transaction costs, and was funded with a combination of existing cash and SBS stock. Avvida will continue to do business as SBS Technologies (Canada) Inc. (SBS Canada).
Avvida specializes in developing imaging solutions for commercial, military, and communications applications. Avvida's products are based on field-programmable-gate-array (FPGA) centric computing that provides system on a chip functionality. This technology can be applied to many products within SBS' existing product portfolio to create new products for image processing and embedded visualization applications.
"We have targeted adding FPGA-based image-processing capabilities into our offering for some time, and we are pleased that Avvida provides that strategic fit for SBS and our customers," said Clarence W. Peckham, chief executive officer of SBS. "The acquisition of Avvida is a critical initiative in our strategy to provide a full range of innovative embedded computing solutions to the government, commercial, communications and enterprise markets," added Peckham.
Ronald E. Strauss, vice president of SBS Canada and cofounder of Avvida, said, "We are excited about the opportunity to complement SBS' embedded computing products with our own. SBS is an established supplier to the embedded computer market, and we share a common commitment to providing world class, high performance computing solutions to our customers. With the additional sales, marketing and engineering resources of SBS, we expect to expand our market position in all of SBS' markets," continued Strauss.
