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br> The Korean government has given its final approval for the launch of the new KHP military transport helicopter, developed in cooperation with Eurocopter. For an estimated total amount of 6 to 8 billion USD, this program which concerns 245 helicopters, represents the largest defense contract ever signed between a European company and South Korea. Korea Aerospace Industry (KAI) will be the main contractor for this program. As first partner of KAI, Eurocopter will provide technical assistance for the development of the aircraft as well as certain sub-assemblies during the production phase. In addition, the agreement between the two companies makes provision for the export marketing of this helicopter via a joint company. The estimated contract is in the order of 300 helicopters.

Telit Communications, Italian wireless communications developer and distributor, announced the acquisition of 75% of Bellwave m2m, a South Korean wireless communications developer of machine to machine modules, in a cash transaction totalling US$6.18M. Bellwave's m2m business has generated some $21M revenue in 2005 with dominant market share in South Korea close to 50%.

Bellwave m2m, which developed and marketed the world's smallest CDMA data communications module, has currently 40 employees. The combination of the two entities will create a new force in the m2m market, capable of servicing all CDMA and GSM and in a future also WCDMA markets, on a global basis. Telit ranks as the third largest supplier of wireless M2M modules on the European market behind Siemens and Wavecom.

Motorola has completed its previously announced acquisition of a development center in Denmark, from BenQ. By this acquisition Motorola is doubling its organization in Denmark which becomes one of its R&D and development hubs in the region. As part of the transaction, Motorola is acquiring approximately 250 employees, the majority of whom are engineers. The new Motorola-team in Aalborg will play an important role in Motorola Mobile Devices global R&D organisation.

Diebold, the world's largest maker of automatic teller machines (ATM), has decided to move its manufacturing facility from Cassis, France to Hungary to cut manufacturing costs. Diebold’s plant in Cassis employs 135 workers.

Indian IT Services group Wipro Technologies has signed an agreement to acquire the Finland based Saraware in an all cash deal for Euro 25 Million. Saraware, a 21 year old company, provides Design and Engineering services to Telecom companies. This acquisition adds expert domain competencies in the areas of radio networks and secure mobile platforms. Saraware has nearly 200 specialists in these domains based out of Finland.

Piero Martinotti, former corporate vice president of STMicroelectronics new ventures group is nominated as chairman of the board of Sensitive Object.
Sensitive Object was created in 2003 by scientists from CNRS and University of Paris 7, to promote an innovative new technology that can modify our comfort and convenience through the sense of touch. Company’s patented technology is based on a process of “time reversal acoustics,” which connects inexpensive sensors to the audio input of a computer, in a way that turns common objects into tactile screens, which are capable of relaying information with a simple “tap”.