EMBRON Group, parent company to technology companies GuardREC, Elektronix, Norautron and Hatteland Display, has signed an agreement to acquire 100% of the electronics and software development company QRTECH. Based in Gothenburg, Sweden, QRTECH employs approx. 90 people and estimates revenues in the range of SEK 120 Million ($14 mln) in 2017.
EMBRON provides own branded hardware and software solutions, customized solutions, R&D and Engineering services and manufacturing services to customers within diverse market segments including marine, offshore, defense, automotive, security, industrial automation and transportation. Revenues in 2016 were approx. NOK 1.4 Billion ($172 mln), positioning EMBRON as one of the largest IT and technology companies in Norway. EMBRON has 16 offices in 9 countries and employs around 900 people. The company is owned 100% by JC Broch AS, which is fully owned by Jørgen Cato Broch.
The acquisition of QRTECH is a step towards strengthening EMBRON's service offering within R&D and Engineering services. QRTECH specializes in electronics and software development and delivers world-class engineering competence and product development services, ranging from concepts and prototypes to mass production. QRTECH's expertise also includes system engineering covering e.g., requirement definition, analysis and decomposition and implementation of automated test systems.
Complementary to EMBRON Group companies, QRTECH's main market segments include automotive, industrial, medtech and energy & building automation. Its software and electronics expertise will complement the electronics manufacturing activities of Norautron and contribute to strengthening the Group's service offering within engineering and R&D services. Moreover, QRTECH's capabilities will be an important contribution to the ongoing development of leading innovative hardware and software solutions provided by the EMBRON companies Hatteland Display, Guardrec and Elektronix.