TES – a new name in full service electronic design and manufacturing
Langon, France 2nd December 2004. It was announced today that TES (Technology Electronic Solutions), an independent full service electronic design and manufacture company, has been formed through the acquisition of Thales Electronic Solutions (TES) business by a group of investors. The activities included in the acquisition are the Grand Fougeray and Langon production centers, the 5 design centers in France, the RF center in Châteaubourg, the CEACI facility in Toulouse, and the 8 design centers in Germany and Scotland. The acquisition includes over 600 employees; more than half of which are design engineers.
The group of buyers consists of three investment funds: Shah Captial Partners, CDC Enterprises Innovation, and VPSA (formerly Viventures). Leading these funds are entrepreneurs and investors who are highly experienced in managing or investing in technology product and service businesses.
Ajay Shah of Shah Capital Partners, a technology executive with over 20 years of experience, founded and managed the Technology Solutions Business of Solectron. Mr. Shah was also the co-founder and CEO of Smart Modular Technologies. “We firmly believe that there is demand for a provider of a full range of services with core competence in both design and manufacturing” said Shah. “Our vision is to expand globally and to create a world-class CDM company. To achieve this goal, we will grow both organically and externally and the company will certainly be present on three continents in less than a year from now”.
The investors have appointed Michel Desbard as President of TES. Desbard, a venture partner at CDC Enterprises Innovation, has held senior positions within Thalès Semiconductor Division, the Memory Division of Fairchild Semiconductor and was Chairman and CEO of Matra Semiconductor. He also founded T.sqware Inc., a Californian Start-Up dedicated to the development of the “Network processors”. “TES comprises 600 plus highly talented and dedicated employees more than half of which are design engineers. We plan on growing the team at the same time as making improvements in productivity that will benefit our customers” said Michel. He added “The strategy of our company in the future will be to grow our services and manufacturing
capabilities globally. This will allow us not only to respond more effectively to customer demands, but also to generate greater value in the range of services and capabilities we can offer.”
Shah Capital Partners focuses on the Electronic manufacturing products & services sector. They create shareholder value by applying years of operating experience and insight to their investments. They bring experience from senior management positions at leading technology companies and appreciate the challenges of a modern technology business.
CDC ENTREPRISES Innovation focuses on three technological sectors: information and communication technologies, life sciences and biotechnology and semiconductor industries.
VPSA invests in the information technology and telecommunications sectors. VPSA offers not only financial commitment but also the technology, business and international expertise of its collaborators as well as an extensive worldwide network of resources, including relationships with its global, blue chip investors.
Other appointments will be announced over the coming weeks.
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