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Bluetooth Accessories Developer Iqua Ltd. Joins SAVOX Group After Successful Share Transaction

10/14/09 - SAVOX Oy and Iqua Ltd., one of the leading Bluetooth accessories companies, today announced completion of a Share Purchase Agreement, under which Iqua has become one of the companies in the SAVOX Group.

Established in 2004 with backing from venture capital firms Viking Venture (Norway), Eqvitec (Finland) and Finnish Industry Investment, Iqua Ltd. has established itself as one of the innovation leaders in mobile communications accessories.

In 2007, the Finnish-based company introduced the world's first solar-powered Bluetooth headset, the acclaimed Iqua SUN, which incorporates a photovoltaic cell that uses any available light -- outdoors and indoors -- to extend the talk and standby times of the headset.

"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 Ltd. "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. We are going to become a more interesting player than ever before."

Established in 1982, Finnish-based SAVOX Oy is one of the leading providers of audio and data solutions for demanding professional users.

"We are strong believers in wireless applications both for the consumer and the professional communications markets," commented Henrik Wikström, President of SAVOX Oy. "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."

By Robert Hoskins

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