LIVERMORE, Calif. – June 4, 2009 – Topcon Positioning Systems (TPS) has purchased a significant ownership interest of Destura, s.r.l, a software and hardware technology company located in Concordia Sulla Secchia, Modena, Italy. TPS has committed to buying the remaining ownership interest by 2014. In conjunction with the purchase, TPS will purchase a large tract of land and several industrial buildings to be used as a training facility and field test site for Europe.
Destura designs and manufactures software and hardware electronic and mechanical products for the electronics, automotive, agriculture and telematics industries. The company's products include data management boards, system diagnostic wireless interfaces, wireless transducers, transmitters/receivers and related systems, vehicle (automobiles and tractors) engine control unit devices and portable mobile navigation system devices, telemetry systems and high-frequency antennas and transducers, among others.
Prior to the purchase agreement, Topcon was one of Destura’s largest customers. The company is best known for its Telepass toll-road payment system, and its work with Ferrari and Maserati in manufacturing engine test computers.
Ray O’Connor, TPS president and CEO, said, “Our business relationship with Destura proved the company was an excellent provider of services and products to the telematics, vehicle and electronics industries. This agreement to purchase the company shows our commitment to help grow the business, and strengthen our position in the telematics and controls market.”
Roberto Botti, one of the founders of Destura, said, “We look forward to continuing our strong working relationship with Topcon. This agreement provides our company a strong partner in the global marketplace for the unique software and hardware developed by our engineers.”
For more information, visitwww.topconpositioning.com.
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