Anite completes acquisition of Elektrobit's Propsim portfolio

FTSE 250-listed software solutions provider Anite has completed its acquisition of the Propsim channel emulation product set of Finnish company Elektrobit.

The product set comprises a range of radio channel emulation hardware and software products, as well as associated research and development capability. It also includes sales and marketing capacity and fulfilment resources.

In the year to December 31st 2011, Elektrobit announced revenues of €14.1m with a pro-forma €1.5m operating profit for Propsim.

In the year to December 31st 2012 revenues are expected to be reported at €16.1m with an operating profit of €1.3m.

MF