Yesterday, Annual General Meeting in Intoi AB decided to change the company's name to IAR System Group AB. Thereby, IAR Systems is launched as a listed company on NASDAQ OMX, Stockholm. IAR Systems is the world's leading provider of software for programming of chip in embedded systems. Its software is used by over 14 000 companies to develop products based on 8-, 16- and 32-bit chip, mainly in industrial automation, medical equipment, consumer electronics, telecommunications and automotive industries
”We have the most complete software for programming of chip in embedded systems. A growing number of our 14 000 customers standardize their development on our tools to quickly develop new competitive products," says Stefan Skarin, CEO of IAR Systems Group. ”As a separate listed company, we are now even more focused and raising our tempo for growth and increased profitability.”
IAR Systems grew in local currency by 7 % in 2008, 1 % in 2009, 13 % in 2010 and by 17 % during the first quarter of 2011. Behind the growth is the increase in the most advanced systems for 32-bit chip and the increased proportion of license sales. IAR Systems' business model is based on license sales of software, creating a scalable business model with great potential for increasing profitability. The long-term financial objective is to grow turnover by 10-15% annually in local currency with an operating margin exceeding 20% over an economic cycle.
This week IAR Systems presents new features to its award-winning Power Debugging technology that makes it possible to analyze the power consumption of chip. Power consumption is linked directly to the code, which means that the programmer easily can see which lines of code that triggers the higher consumption. IAR Systems Power Debugging technology has been awarded the Best Electronic Design 2010 by Electronic Design Magazine, and is a finalist for the 2010 EDN Innovation Awards.
When the change of name is registered with the Companies Registration Office, the company's ticker symbol will become "IAR".
IAR Systems is the world’s leading supplier of software tools for programming of chip in embedded systems. The software enables over 14 000 large and small companies to develop premium products based on 8-, 16-, and 32-bit microcontrollers, mainly in the areas of industrial automation, medical devices, consumer electronics, telecommunication and automotive products. IAR Systems has an extensive network of partners and cooperates with the world’s leading semiconductor vendors. IAR Systems is listed on NASDAQ OMX Stockholm via its owner Intoi AB. Intoi AB is being renamed IAR Systems Group. When the amendment is registered with the Companies Registration Office, the company's ticker symbol on the NASDAQ OMX will become IAR. For more information, please visit www.iarsystemsgroup.se
IAR Systems contacts:
Stefan Skarin, CEO IAR Systems Group AB
Tel: +46 70 865 10 05 E-mail: Stefan.firstname.lastname@example.org
Fredrik Medin, Marketing Director, IAR Systems
Tel: +46 18 16 78 00 E-mail: email@example.com