Acquisition & Disposal

8 Apr 2005 07:00

Radstone Technology PLC08 April 2005 FOR IMMEDIATE RELEASE 8 April 2005 Radstone Technology PLC Acquisition of Intellectual Property And Disposal of SensorCom Company continues development of strategic focus in key areas Radstone Technology PLC, the world's leading independent supplier ofhigh-performance, embedded computer products for defence and aerospaceapplications today announces two moves designed to further develop and refinethe company's strategy. It has sold its subsidiary company, SensorCom Inc andhas also acquired, through its subsidiary DaqScribe Technology Inc.,intellectual property (IP) from SavvyCorp. SensorCom joined the Radstone Group as part of the acquisition of ICS Limited,of which it was a subsidiary, in September 2003. Based in Annapolis, Maryland,the company is a small systems integrator with a different focus to the otherelements of Radstone's embedded computing division and therefore the Board ofRadstone decided to divest the business to its current management team. ICSacquired SensorCom for $285K in September 2002 and it has been sold for $1.6million. Net assets at disposal were approximately $100K. DaqScribe Technology is headquartered in Centennial, Colorado: the company is afull-service solution provider for mechanical test and measurement applicationsfor the military, aerospace and automotive markets. SavvyCorp offers a completehigh performance, low cost data acquisition system solution. In addition, itoffers high bandwidth signal conditioning modules packaged in 1U enclosures tomeasure pressure, temperature and other sensor inputs. DaqScribe and SavvyCorphave worked together previously on a number of projects. Radstone paid $167Kfor the trade and assets of SavvyCorp whose President, Michael P Welch, hasjoined DaqScribe. Jeff Perrin, Chief Executive of Radstone Technology PLC commented: "Strategically, Test and Measurement is a growth area for us and we have takenadvantage of the opportunity to acquire IP that will further strengthen ouroffering in this market. At the same time, SensorCom has been sold because ithas become apparent that the strategic fit between our core engineeringdevelopment and manufacturing businesses and SensorCom's integration businesswas not ideal. We wish the SensorCom management team every success in thefuture." For further information: Radstone Technology +44 (0) 1327-359444 Jeff Perrin, Chief ExecutiveKevin Boyd, Group Finance Director Web: http://www.radstone.co.uk Buchanan Communications 020 7466 5000 Tim Thompson or Nicola Cronk Email : nicolac@buchanan.uk.com About Radstone Technology PLC Radstone Technology PLC is a global provider of computer products and servicesat the leading edge of the IT and electronics industry. The Group's mainbusiness, Radstone Embedded Computing, designs and manufactures embeddedcomputer products for defense and aerospace applications. Radstone's productsare all based on leading-edge commercial technologies. Radstone Embedded Computing includes Radstone Digital Processing, which leadsthe market in the development and delivery of rugged, high performance singleboard computers, communications and networking modules and digital signalprocessors; ICS (Interactive Circuits and Systems), a leader in the field ofdata acquisition and processing; and Octec, a developer and manufacturer ofhigh performance real-time video tracking and image processing solutions. Foundation Technology is the Group's Electronics Manufacturing Servicesbusiness, and provides a wide range of electronic manufacturing servicesincluding design, development and fast-track prototype build, through tocomponent procurement, automated assembly and test. For more information about Radstone Technology PLC and its business, productsand services, visit the company's web site at: http://www.radstone.com. This information is provided by RNS The company news service from the London Stock Exchange