Screen PLC
6 February 2001
SCREEN PLC: Completion of Acquisition
Completion of the acquisition of BAE SYSTEMS Plc's Civil Systems Software
division
Following the announcement made on 8 January 2001, Screen Plc ('Screen'), the
provider of advanced security and a communication systems, announces that it
has now successfully completed the acquisition of the Civil Systems Division
of BAE SYSTEMS Plc ('CSD') for a consideration of £0.85m, payable in cash,
together with a payment for debtors as of completion which is anticipated to
be £260,000.
CSD supplies advanced software products, together with related support and
consultancy advice, to Fire Services throughout the UK, to dispatch emergency
calls and manage their resources. Its major customers include the Fire
Brigades of London, East Sussex, Tyne & Wear, Lancashire, Hereford & Worcester
and Derby. Other products and services provided to customers, including
airport authorities, are environmental monitoring, telematics systems and
product sales.
The acquisition is in line with Screen's stated policy of strengthening its
presence within the emergency services sector by incorporating market-leading
products and enhancing its telematic and software capabilities via Command and
Control and Management Information Systems.
The CSD is based in Leicester and employs a total workforce of 26. In line
with earlier acquisitions by Screen, the CSD is a recognised market leader and
brings with it a quality customer base, substantial forward orders and
recurring revenue streams.
In the year ended 31 March 2000 it recorded a turnover of £2.1m and net
profits of £0.2m, and on completion is expected to have net assets of £0.7m.
Commenting on the acquisition, Richard Hill, Business Development Director of
Screen said:
'We are very excited about this acquisition. It will significantly strengthen
our position in the 'blue light' sector and provide us with additional
expertise as we seek to take advantage of new opportunities opening up in the
integrated transportation and 'orange light' markets'.
Contacts:
Screen Plc Binns & Co PR Ltd
Richard Hill, Business Development Director Peter Binns
Tel: 01235 816474 Mob: 07767 342556 Paul McManus
Info@screenplc.com http://www.screenplc.com Tel: 020 7786 9600
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