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Iqua Joins Savox Group

10/14/2009 09:25:25 AM Eastern

Helsinki, Finland - Iqua, a Bluetooth accessories manufacturer, announced today it had completed a share purchase agreement with Savox Oy, a provider of communications solutions. The completion of the agreement results in Iqua becoming part of the Savox Group.

Iqua is perhaps best known for its solar-powered Bluetooth headset, the Iqua Sun.

 "Joining the Savox Group will help give Iqua the opportunity to continue its course in providing the very best in consumer technological innovations," said Juha Reima, founder and CEO, Iqua. "Furthermore, Savox Group has developed world-class technology for audio and data applications that are already being used in the most demanding environments by rescue teams, police and military forces. We are very excited that Iqua now has opportunity to integrate many of these technologies into our market segment - innovations that have previously only been available in professional markets."

 Henrik Wikström, Savox Oy president, said: "We are strong believers in wireless applications both for the consumer and the professional communications markets. We were impressed with Iqua's outstanding tradition of product innovation and proven track record. We clearly see excellent growth potential in both consumer and professional markets resulting from the synergies that can be achieved through our respective organizations' sharing of know-how and technologies."

A spokesman for the Iqua told TWICE that becoming part of the Savox Group would not affect Iqua's headcount.

"Plans call for expansion of U.S. operations in 2010 at the same time the companies will be exploring synergies between Iqua and Savox sales organizations," he said.

Iqua currently has U.S. sales operations headquartered in Round Rock, Texas, but the spokesman said it is planning to open a new sales office in New York City, at which time the Texas staff will relocate.

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