Intoi is being renamed to IAR Systems Group AB to reflect its focus on IAR Systems AB. Today the parent company is publishing its Annual Report for 2010 in English.
In 2010 Intoi’s subsidiary IAR Systems reached the new record level of net sales with SEK 177.9m. In local currency, sales were up by 19 per cent in the USA, 20 per cent in Europe and 28 per cent in Japan for the full year. Operating profit rose by 26 per cent to SEK 22.5m and operating margin improved to 13 per cent.
Towards the end of 2010, Intoi decided to focus on IAR Systems. As a consequence, Intoi divested Northern and distributed Deltaco to shareholders in April 2011. In May 2011, the Annual General Meeting decide to change Intoi ABs name into IAR Systems Group AB. When the change of name is registered with the Companies Registration Office, the company's ticker symbol will become "IAR".