IAR Systems wins major orders from leading medico-technical company
IAR Systems, a subsidiary of the O-listed Nocom AB, has signed several major contracts with an international medico-technical group with a focus on cardiovascular care. The order includes a development contract, extensive support services and leasing of software for a period of three years. The total order value during the contract period is estimated at between SEK 9 and SEK 12 million, of which approximately SEK 4 million in 2006. The contracts are an extension of a longstanding partnership between the companies, where the customer previously only purchased software licenses. Until October 31 this year IAR Systems will assist in development of the microprocessor architecture used by the customer in its advance medico-technical products, whose rising complexity and functionality requirements demand efficient and reliable software. The contract also includes prioritized, qualified support and leasing of software. “These contracts demonstrate the breadth of our offering. The software is critical to our customer’s applications – and, in fact, vital to the product’s users,” says Olle Eriksson, President of IAR Systems. “With our expertise in programming tools for microprocessors, we can support the customer in developing and improving the performance of its products. This will create potential for additional business, both in product development and in connection with major technology shifts.” The new contracts are a good example of IAR Systems’ successful business model. “IAR Systems is focused on development work that can generate added revenue through future software sales and support services,” says Stefan Ström, CEO of Nocom. “This revenue model ensures profitability in both the short and long term – and strengthens IAR Systems’ position as a competent partner in business-critical product development.”