Assay Corporate Finance successfully advised the shareholders of Rapita Systems Ltd (“Rapita”), a leading provider of real-time verification solutions for aerospace and automotive embedded systems, on the sale of their business to Danlaw Inc. (“Danlaw”), a global connected vehicle, automotive electronics and embedded engineering enterprise.
“The Rapita family of testing products complement our unique Mx-Suite™ automated environment for MIL/SIL/HIL testing,” said Dan McClung, Danlaw’s VP of Engineering Solutions. “With the integration of Rapita products, Danlaw has strengthened its portfolio of embedded software tools to include on-target testing. This extended tool suite further addresses the needs of automotive and aerospace functional safety requirements.”
The Rapita family of products includes:
RapiTime™ – Performance measurement and timing analysis, including worst-case execution time (WCET)
RapiCover™ – Structural coverage analysis, including MC/DC coverage
RapiTask™ – Visualization of RTOS scheduling and event tracing
RapiTestFramework™ – Unit testing and module based testing
“This acquisition opens great opportunities for Rapita to consolidate and to grow its customer base, in particular to expand the operations in the USA. Our customers will benefit from our combined toolset and expertise along with a worldwide engineering service infrastructure.” says Dr. Guillem Bernat, CEO of Rapita Systems.
Raju Dandu, Chairman of Danlaw, says, “Rapita fits perfectly with the aggressive growth goals set for our engineering solutions division. Our strategic plan included further addition of software engineering tools and global expansion of our engineering services; this acquisition delivers on both. We welcome the Rapita team into the close-knit Danlaw family.”
Ian Broster, founder of Rapita had the following to say on Assay Partner Ian Bussey’s role in leading the transaction: “I just wanted to say a huge thank you to you for how you have handled this deal. You have been absolutely amazing in your control of the deal, coordination, negotiation and problem solving. It was a superb job. Well done indeed.”
Danlaw’s 500+ engineering professionals have been providing connected vehicle telematics and automotive embedded electronics solutions to OEM’s and their Tier-1 supply base for over 30 years. Danlaw has facilities in the USA, Europe, India and China. Danlaw’s specialty areas include embedded systems development and testing for Embedded Control Units (ECUs), vehicle network communications, infotainment, and telematics. Their customers include Automotive OEMs, automotive electronics suppliers, fleet and automotive insurance companies worldwide.
Rapita Systems Limited