Good start to the year for IAR Systems – signs license agreement with Japanese electronics company

IAR Systems, a subsidiary of Nocom, has signed an agreement with a leading Japanese electronics company covering a large number of software licenses. The order is worth SEK 1.1 million in license revenue. In 2006, the same customer signed several license agreements with a combined order value of more than SEK 3 million. This follow-up order will expand the opportunities for long-term partnership and future sales.

"We are especially pleased by the continued confidence this customer has placed in us, and by the opportunity to further strengthen our position in the global market. We anticipate additional orders of the same magnitude during the coming year,” says Olle Eriksson, President of IAR Systems.

In 2006 IAR Systems focused primarily on license sales of software development tools for embedded systems. This has generated a very positive earnings trend and the company’s largest markets today are found in USA, Germany and Asia.

”This order has given IAR Systems a good start to the new year and widened the scope for ongoing expansion and growth. Nocom will continue to invest in marketing and sales resources for its software business to accelerate growth in this market,” says Stefan Ström, President and CEO of Nocom.