VITEC GROUP PLC
20 October 1999
US$ 3.25 MILLION ACQUISITION OF U.S. WIRELESS MICROPHONE
AND WIRELESS INTERCOM BUSINESS
Vitec Group plc announces the acquisition of the trade, assets and certain
liabilities of the wireless intercom and wireless microphone business of Vega,
from Telex Communications, Inc. for a cash consideration of US$ 3.25 million.
Vega, based in El Monte, California, is a leading U.S. company specialising in
the design and manufacture of high performance wireless intercom and wireless
microphone equipment. In the year to December 1998 unaudited sales were
U.S.$6.0 million. Since 1990 Vega has supplied wireless intercom systems to
Clear-Com, another member of the Vitec group, and the acquisition will
complement existing group activities in communications and audio markets.
Malcolm Baggott, Chief Executive of Vitec Group, commenting on the acquisition
said:
'Vega's wireless intercom business fits neatly with our existing intercom
companies and the wireless microphone product lines provide a base for
extending our activities in audio arena.'
Contact:
M A W Baggott, Chief Vitec Group plc Tel: 01494 679800
Executive
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