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One Stop Systems (NASDAQ:OSS) has accquired Bressner Technology for 4.7 million euros in cash and 106,463 in restricted shares of OSS common stock. One Stop Systems, a company engaged in design and manufacture of high performance compute accelerators, noted that Bressner generates revenue of approximately 14 million euros per year. As quoted in the press …
One Stop Systems (NASDAQ:OSS) has accquired Bressner Technology for 4.7 million euros in cash and 106,463 in restricted shares of OSS common stock.
One Stop Systems, a company engaged in design and manufacture of high performance compute accelerators, noted that Bressner generates revenue of approximately 14 million euros per year.
As quoted in the press release:
Based in GRÖBENZELL, Germany near Munich, Bressner provides standard and customized servers, panel PCs, and PCIe expansion systems. Their primary headquarters provides manufacturing, test, sales and marketing services for customers throughout Europe and the Middle East. The company has over 700 customers throughout Europe. Its major OEM customers include Novartis, Ipsotek, Intel, Rohde & Schwarz, BMW, and others.
For 100% of the outstanding stock of Bressner Technology GmbH, OSS GmbH paid €4,725,000 in cash and 106,463 in newly-issued restricted shares of OSS common stock.“This strategic acquisition of Bressner greatly expands our operations internationally,” said OSS president and CEO, Steve Cooper. “Through this acquisition, OSS has been able to establish a strong European presence which is key to our vision of rapid world-wide growth in the specialized high-performance computing marketplace.”
Bressner founder and managing director, Josef Bressner, and its managing director, Martin Stiborski, will continue to manage the Bressner business. “We have worked closely with OSS for the past 10 years,” commented Bressner. “We see OSS R&D capabilities greatly enhancing Bressner’s engineering capability, allowing us to pursue a wider scope of customers looking for a high degree of customization. So, we’re confident this acquisition is an ideal fit for our collective capabilities, and creates powerful synergies that will drive the growth and global reach of OSS.”
OSS VP of Sales and Marketing, Jim Ison: “With the Bressner sales, marketing and support teams in Europe, we can further expand into the EMEA market where we see strong demand for OSS specialized high-performance computing products. The Bressner support team will allow us to offer extended service level agreements to our core customers and make OSS products more attractive to the high growth AI and deep learning customers in the region.”