Acquisition

The Vitec Group PLC 06 October 2006 6 October 2006 The Vitec Group plc Acquisition of the Autoscript prompting business The Vitec Group plc ('Vitec') announces that it has today signed an agreement to acquire the issued share capital of ALC Broadcast Limited, which is the holding company for the Autoscript prompting businesses ('Autoscript'). Autoscript is one of the leading providers of prompting hardware and software to the broadcast industry, with subsidiaries in the UK and USA. Vitec acts as distributor for Autoscript in Germany and Italy. Vitec and Autoscript recently co-developed an innovative prompting system which gained one of a number of industry awards recently received by Autoscript. More information may be found at www.autoscript.tv. Sales of Autoscript in the year ended 31 December 2005 were £3.5m. Gross assets that are the subject of the acquisition are expected to be £2.1m, including £0.7m of goodwill. The initial cash consideration, together with earnout payments relating to 2007 and 2008 performance, will be funded from existing resources. The acquisition is expected to be slightly earnings-enhancing in the financial year ending 2007 (see note 1). Completion is expected to take place on or around 31 October 2006. Gareth Rhys Williams, Chief Executive of Vitec, said: 'I am delighted to announce this acquisition. Autoscript is a growing business that we know well which, together with our existing brands, will enhance our position as a leading supplier to the broadcast and video industry.' - Ends - Contacts: The Vitec Group plc Tel: 020 8939 4650 Gareth Rhys Williams Alastair Hewgill Financial Dynamics Tel: 020 7269 7121 Richard Mountain/Susanne Walker Notes to Editors About The Vitec Group plc: The Vitec Group plc supplies a wide range of equipment and services to the broadcasting, entertainment and photographic industries. Its products are distributed in nearly 100 countries, either through dealerships or direct to the end user or corporate customer. The Vitec Group is a major force in its chosen specialised fields. More information can be found at: http://www.vitecgroup.com. Note 1: This statement should not be taken to mean that earnings per share (pre amortisation of intangibles) of The Vitec Group plc will necessarily exceed or be lower than historic earnings per share (pre amortisation of intangibles) of The Vitec Group plc and no forecast is intended or implied. This information is provided by RNS The company news service from the London Stock Exchange

Companies

Videndum (VID)
UK 100