Mindready Solutions Inc. Acquires Northern Ireland Test
Engineering Firm, Yelo Limited - Mindready Pursues its
Expansion Strategy
MONTREAL, QUEBEC--OCTOBER 26, 2000 - 14:25 EDT
Mindready Solutions Inc., a subsidiary of nurun
Inc., announced today it has acquired YELO LIMITED ("Yelo"), a
test engineering company based in Carrickfergus, Northern Ireland.
The acquisition of Yelo will allow Mindready to pursue its
international growth strategy through a well-established local
operations center in Northern Ireland. Yelo employs 45 engineers
and technicians. The transaction has been made in consideration
of cash and shares of Mindready.
Yelo designs and manufactures 'TestPoint', a low cost test
platform for electronic products. By joining forces with
Mindready, Yelo gains access to the North American market. Its
expertise in test engineering will also allow Mindready to rely on
a solid operations center in Northern Ireland to better serve
Nortel Networks optical systems integration center in Monkstown.
This new center in Northern Ireland will consolidate Mindready's
global operations in the UK by complementing its existing center
in Paignton, England (with recently acquired CCS (UK) and Andrew
Duncan Associates Limited (ADA)).
"This acquisition is part of our consolidation strategy to better
serve our key customers such as Nortel Networks" said Daniel
Dussault, President and CEO of Mindready. "We are delighted to
welcome in our growing organization a team of experienced software
and hardware engineers who will strengthen our UK operations as
well as provide us with an interesting portfolio of products in
the test engineering arena."
"We are very excited about joining Mindready, a leading supplier
of test engineering solutions" said Alan Watts, Yelo current
Marketing Director and future Vice President and General Manager
for Mindready Northern Ireland. "I am confident that this will
allow Yelo to rapidly grow to the benefit of all its employees as
well as its existing and future clients. The vision of Mindready
along with the support they are able to offer us will definitely
leverage our growth opportunities."
Mindready Solutions Inc.
Mindready, a subsidiary of nurun Inc. (TSE: IFN), is a leading
supplier of test engineering services and real-time communication
solutions for embedded systems for the telecommunications,
aerospace and multimedia industries. Recognized as a leader in
IEEE-1394-based products, Mindready offers complete innovative
solutions based on this technology. Mindready designs and
manufactures a family of high-speed communication hardware
adapters and software tools based on IEEE-1394 standards.
Mindready's expertise covers design and development of real-time
applications, as well as complete test engineering solutions for
complex embedded systems. Mindready's clients include Nortel
Networks, Hewlett Packard, WindRiver, Boeing, Fujitsu, Maxtor,
Xerox and Texas Instruments. More information about Mindready and
its products and services can be found at www.mindready.com. |
