ScandiNova Systems AB, a leading provider of high-voltage pulsed power systems and magnets, has announced its acquisition of the majority share of International Electric Company (IECO). The acquisition aims to broaden ScandiNova’s product offering, add key technology and increase knowledge and talent to meet future goals.
A Perfect Match
IECO is a well-recognized producer of power amplifiers and precision power supplies for the global healthcare, scientific, and industrial markets. ScandiNova CEO Niklas Edling noted that IECO is a perfect match with ScandiNova in terms of offering high-end solutions to the same customer segments. The acquisition is expected to better meet the increasing demand from customers for integrated systems and comprehensive solutions while also broadening the customer base in new applications such as medical imaging systems.
Kimmo Alho, CEO at IECO, expressed his excitement about the acquisition and said, “I am very happy about this important milestone for our company and the opportunities it presents for both ScandiNova and IECO. We share a common vision of providing high-end solutions to our customers, and I believe that this acquisition will enable us to achieve our goals together.”
In addition to expanding ScandiNova’s product line, the acquisition of IECO also brings additional expertise in areas such as design and product development. Like ScandiNova, IECO has been at the forefront of technology and innovation for many years, focusing on providing products with leading performance and reliability.
CTO Speaks Out
Rauno Aaltonen, CTO at IECO, said, “I am excited to join forces with ScandiNova and see great potential in combining our technologies to enhance our customer offerings. I look forward to working closely with the talented team at ScandiNova to drive innovation and create even more advanced solutions for our customers.”
Kimmo Ahlo and Rauno Aaltonen will continue in their operational roles and as shareholders. The acquisition of IECO is part of ScandiNova’s long-term strategic vision to expand its offer of critical subsystems for the medtech, scientific, and industrial markets. The company now has almost 200 employees and is very positive about future development.
The acquisition of IECO by ScandiNova is expected to strengthen the company’s position in the market, expand its product offering, and provide more advanced solutions to its customers. The acquisition is a clear indication of ScandiNova’s long-term strategic vision to be a leading provider of high-end solutions to its customers in the medtech, scientific, and industrial markets.