Radstone Technology PLC
08 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 of
high-performance, embedded computer products for defence and aerospace
applications today announces two moves designed to further develop and refine
the company's strategy. It has sold its subsidiary company, SensorCom Inc and
has 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 other
elements of Radstone's embedded computing division and therefore the Board of
Radstone decided to divest the business to its current management team. ICS
acquired SensorCom for $285K in September 2002 and it has been sold for $1.6
million. Net assets at disposal were approximately $100K.
DaqScribe Technology is headquartered in Centennial, Colorado: the company is a
full-service solution provider for mechanical test and measurement applications
for the military, aerospace and automotive markets. SavvyCorp offers a complete
high performance, low cost data acquisition system solution. In addition, it
offers high bandwidth signal conditioning modules packaged in 1U enclosures to
measure pressure, temperature and other sensor inputs. DaqScribe and SavvyCorp
have worked together previously on a number of projects. Radstone paid $167K
for the trade and assets of SavvyCorp whose President, Michael P Welch, has
joined DaqScribe.
Jeff Perrin, Chief Executive of Radstone Technology PLC commented:
"Strategically, Test and Measurement is a growth area for us and we have taken
advantage of the opportunity to acquire IP that will further strengthen our
offering in this market. At the same time, SensorCom has been sold because it
has become apparent that the strategic fit between our core engineering
development and manufacturing businesses and SensorCom's integration business
was not ideal. We wish the SensorCom management team every success in the
future."
For further information:
Radstone Technology +44 (0) 1327-359444
Jeff Perrin, Chief Executive
Kevin 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 services
at the leading edge of the IT and electronics industry. The Group's main
business, Radstone Embedded Computing, designs and manufactures embedded
computer products for defense and aerospace applications. Radstone's products
are all based on leading-edge commercial technologies.
Radstone Embedded Computing includes Radstone Digital Processing, which leads
the market in the development and delivery of rugged, high performance single
board computers, communications and networking modules and digital signal
processors; ICS (Interactive Circuits and Systems), a leader in the field of
data acquisition and processing; and Octec, a developer and manufacturer of
high performance real-time video tracking and image processing solutions.
Foundation Technology is the Group's Electronics Manufacturing Services
business, and provides a wide range of electronic manufacturing services
including design, development and fast-track prototype build, through to
component procurement, automated assembly and test.
For more information about Radstone Technology PLC and its business, products
and 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
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