News Release from: TES
Edited by the Electronicstalk Editorial Team on 1 February 2005
New name in electronics design and manufacture
TES is a new independent full service electronics design and manufacture company formed through the acquisition of Thales Electronic Solutions business by a group of investors.
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TES (Technology Electronic Solutions) is a new independent full service electronics design and manufacture company formed through the acquisition of Thales Electronic Solutions business by a group of investors. The activities included in the acquisition are the Grand Fougeray and Langon production centres, the five design centres in France, the RF centre in Chateaubourg, the CEACI facility in Toulouse, and the eight design centres 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.
Shah was also the cofounder 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 Thales Semiconductor Division, the Memory Division of Fairchild Semiconductor and was Chairman and CEO of Matra Semiconductor.
He also founded T.sqware, a Californian startup dedicated to the development of 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 Desbard.
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'.
Other appointments will be announced over the coming weeks.
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