Averna acquires substantial Mindready assets



    MONTREAL, Feb. 27 /CNW Telbec/ - Averna, one of the fastest-growing tech
companies in North America, today announced the acquisition of substantially
all assets of test solution provider Mindready Solutions Inc., a move that
will expand Averna's RF and communications product portfolio, reinforce its
leadership in test engineering, establish a footprint in the European market,
and provide solid engineering management and business practices to Mindready
clients.
    Averna purchased these assets with key financial partner Fondaction CSN
less than four weeks after Averna's executive team first investigated the
transaction.
    Under the terms of the transaction, Averna will acquire all intellectual
property, a suite of renowned hardware and software products including the
Universal Radio Tester (URT) and SedNet IEEE-1394/FireWire(R), an engineering
and management team in Canada and Ireland of 50, and a client base of
electronic device and telematics manufacturers spread across North America,
Europe, and Asia. Post-acquisition, Mindready Solutions Inc. will cease to
operate as a distinct entity, and Averna will remain a private, Canadian-owned
company.
    "With a strong virtual instrumentation background to complement our
Proligent(TM) and Test and Measurement business units, and with the technology
partnerships that we have forged, Averna is perfectly positioned to become the
'IBM of test engineering' ", said Pascal Pilon, president and CEO of Averna.
"We look forward to using our strengthened brand, complete product portfolio,
high level of professionalism, and enriched technical expertise to give our
new and existing clients unparalleled satisfaction."
    "It is clear to us that Averna has gained a leadership position in test
engineering, and we are glad to become part of this fast-growing and renowned
company," said Christian Moreau, CEO of Mindready Solutions. "I am confident
that Mindready clients such as Alcatel, Boeing, Lockheed Martin, Nissan, and
Panasonic will benefit from our combined strengths, and that our solutions
will see an even wider distribution."

    About Averna

    Averna, The Test Engineering Company(TM), is uniquely structured to give
high-tech electronics OEMs full product lifecycle support, from design to
manufacturing. Averna provides solutions that accelerate time-to-quality by
boosting engineer and test system efficiency and the impact they have on new
product design and introduction into production. Averna also supplies
on-demand services for designing, building, deploying, and maintaining test
systems worldwide. Averna is a Select Alliance Partner of National
Instruments, and an Agilent Channel Partner.




For further information:

For further information: Daniel Cox, Technical Writer and Communications
Editor, Averna, 1-877-842-7577 ext. 457, daniel.cox@averna.com; Source:
Averna, www.averna.com

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AVERNA TECHNOLOGIES

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