IAR Systems has today sold 300 000 shares of series B. The buyers were a number of institutional investors, reinforcing the company's ownership base.
The proceeds from the sold shares will be used to fund additional consideration for the acquisition of Signum Systems Corp.
After the sale IAR Systems Group owns 334 600 Series B shares, representing 2.9% of the total shares in the company.
IAR Systems, founded in 1983, is one of the world's leading providers of software for programming of processors in embedded systems. The company's development tools are used by more than 14,000 companies to program processors that control products in the areas of industrial automation, medical devices, consumer electronics, telecommunications, automotive products, etc.
IAR Systems brings value to organizations that develop embedded products. We provide the tools and services that make embedded software development fast, efficient and reliable. This enables our customers across the globe to deliver better products faster to their markets.
IAR Systems Group is listed on NASDAQ OMX, under ticker IAR.
Stefan Skarin, CEO, IAR Systems Group AB
Tel: +46 708 65 10 05
Peter Larsson Chairman of the board, IAR Systems Group AB
Tel: +46 708 32 72 68