Oslo, Tuesday, August 24, 2010
Stock Exchange Notification
Blom has entered a Sales Purchase Agreement with Portuguese NDrive
Divestment of Technology Rights
Blom has entered into a Sales Purchase Agreement with the Portuguese provider of navigation systems and mobility solutions, NDrive. Under this agreement Blom divests certain Technology Rights related to navigation for mobile devices.
The estimated revenue impact for Blom in 2010 is expected to be approximately NOK 25 million.
This transaction strengthens the strategic partnership between Blom and NDrive and will enable NDrive to capture further market share for navigation solutions.
For further information please contact:
CEO Dirk Blaauw, tel. (+47) 22 13 19 20 or
CFO Lars Bakklund, tel. (+47) 22 13 19 34.
NDrive is a European innovator in the development and supply of onboard navigation systems and mobility solutions for Windows Mobile, Symbian, iPhone, Android and bada platforms.