Karlskrona, Sweden-based Teleca will pay an undisclosed sum to acquire Teleca UniView, which employs 11 people, and Teleca said the sale will result in a small capital gain. As part of the deal, Radius Sweden will also take on Teleca’s industrial IT, automation consulting services, and communication and remote control products and systems, which Teleca marketed under the Benima brand.
Teleca UniView develops and sells its own HMI/SCADA product, which it took over in 2002 as part of the acquisition by Teleca of Pronyx AB.
Teleca has been under pressure in recent months because of widening losses. For the nine months ended September 30, 2004, Teleca reported a net loss of SEK40.3 million ($5.84 million) compared to a loss of SEK8.6 million ($1.25 million) in 2003, on revenue that grew 6% to SEK1.95 billion ($282.8 million). At the end of the period, the company had cash and cash equivalents of SEK88.7 million ($12.9 million), a 41% decline on 2003.
