Icelandic technology companies have been gaining increased recognition with their products and services in international markets. As these companies’ aggressive R&D finally pays off, foreign investors have been taking advantage of their technological leads with the added bonus of the best business operating environment, as Iceland was rated in the latest IMD study (www.imd.ch). Only last month Viasys of the US acquired the Icelandic neurodiagnostic company Taugagreining, and US mobile media company Enpocket (www.enpocket.com) acquired the mobile community provider Landmat. Last year Microsoft bought a division of ICEX-listed software company Kögun. US company WiCell has recently announced the launch of stem cell research in Iceland where a pioneer in this field, Dr. James Thompson, will work with Nimblegen Iceland. Nasdaq-listed deCODE Genetics, headquartered in Iceland, was last October awarded a 5-year US research grant of more than $23 million by the National Institute of Allergy and Infectious Diseases (NIAID), part of the US National Institutes of Health. Also, the Icelandic Heart Association (IHA) has worked with deCODE on drug development programmes by providing access to its extensive patients database. The Icelandic Heart Association has also been awarded four research agreements with the US National Institute on Aging and the National Heart, Lung and Blood Institute. All these research projects are based on the extensive Aging project that IHA has carried out since 1964 and is still collecting data from patients and their offspring. Profiles of IT & Telecom companies in Iceland can be found under this link.

American mobile media provider Enpocket has completed the acquisition of the Icelandic software company Landmat, which is a global leader in providing dating, chatting and m-blogging applications to the world’s leading operators, such as Vodafone, Cingular, Verizon, Telefonica, T-Mobile and Singtel. Landmat has also succeeded in mobilizing brands such as Match.com, Discovery Channel and Time Out across multiple networks and territories. “Enpocket (www.enpocket.com) and Landmat have joined forces to create a new global force in mobile media. We can now deliver a complete service to clients by creating, distributing and marketing a wide range of mobile entertainment services. As the market matures the ‘build it and they will come’ approach will simply not work; consequently we are enabling our clients to drive user uptake through integrated marketing,” said Jonathon Linner, CEO, Enpocket.

US company VIASYS Healthcare Inc. (NYSE: VAS) has acquired the Icelandic neurodiagnostic company Taugagreining. Founded in 1987, Taugagreining designs and sells electroencephalography (EEG) technology for the diagnosis and monitoring of neurological function. Terms of the transaction were not disclosed. VIASYS Healthcare Inc. is a global medical technology company focused on respiratory, neurocare and medical/surgical products. VIASYS products are marketed under recognised brand names such as SensorMedics®, Bird®, Bear®, Nicolet®, Jaeger™ and EME®. VIASYS is headquartered in Conshohocken, PA.

Nimblegen Iceland (www.nimblegen.com) and Wicell (www.wicell.org) have made a cooperation agreement on running a laboratory for stem cell research in Iceland. Wicell chose Nimblegen for its pacesetting, advanced technology in this field. Nimblegen has developed a microarray technology to speed the research discovery process and this has been used for genetic research to examine the connection between genetic activity and diseases.

The US company VIASYS Healthcare Inc. has acquired the assets of the Icelandic neurodiagnostic company Taugagreining founded in 1987. Taugagreining designs and sells electroencephalography (EEG) technology for the diagnosis and monitoring of neurological function. Terms of the transaction were not disclosed.  VIASYS Healthcare Inc. is a global, medical technology company focused in respiratory, neurocare and medical/surgical products. VIASYS products are marketed under well-recognized brand names such as SensorMedics®, Bird®, Bear®, Nicolet®, Jaeger™, and EME®. VIASYS is headquartered in Conshohocken, PA.  VIASYS Healthcare website  News release

Iceland ranks fifth in global competitiveness, according to the IMD World Competitiveness Yearbook, 2004. The US ranks first, Singapore second, Canada third and Australia fourth. Last year, Iceland ranked eighth. This result puts Iceland at first place in Europe for competitiveness, outperforming the continent's - and some of the world's - biggest industrial nations. The World Competitiveness Yearbook features sixty national and regional economies and examines 323 different criteria, grouped by four competitiveness factors. Main results regarding IcelandAccording to the report, Iceland's performance has improved compared to last year. Iceland's main strengths are governmental efficiency, strong societal framework, strong domestic economy and high business efficiency, due to strong flexibility and people's adaptability. Finally, Iceland has a developed infrastructure, with the educational and technological infrastructure being the main strengths, along with low pollution. The World Competitiveness Yearbook, a comprehensive annual report on the competitiveness of nations, ranks and analyzes how a nation's environment creates and sustains business competitiveness. The report is provided by IMD, an independent non-profit foundation located in Lausanne, Switzerland.

According to the Ministry, a new economic upswing began last year which has yielded economic growth of 4% and is estimated to last for at least the next 5-6 years. This year, a growth of 4½% is expected and in 2005 of 5¼%. While growth will continue to exceed 4% in 2006, it is estimated to recede somewhat in the following years, 2007-2010, to just under 3%. The main reasons for forecasting strong growth are greatly increased investment in large-scale industry and the continued rapid rise in private consumption.  

Ground was broken last month to expand Nordural at Grundartangi. This expansion will double the smelter's capacity to 180,000 mtpy and is planned for completion by spring 2006. Recently, Nordural was acquired by Century Aluminum (NASDAQ CENX).