Acquisition
OMG PLC
10 February 2005
OMG plc ('OMG' or 'the Company')
Acquisition of Peak Performance Technologies, Inc
OMG, the global leader in the three-dimensional capture and analysis of
movement, providing tools and services for life sciences, entertainment and
engineering applications, announced today that it has acquired the business and
assets of Peak Performance Technologies, Inc ('Peak'), for a total consideration
of $1,100,000 (£593,000) comprising:
• initial consideration of $500,000 in cash;
• 1,077,616 ordinary shares of 0.25p each in the Company; and
• Deferred cash consideration of $100,000 subject to certain performance
conditions.
Application will be made for the new ordinary shares to be admitted to AIM,
which is expected to occur on Wednesday, 16 February 2005.
Peak, based in Denver, Colorado, is a long established leader in motion
measurement and analysis in their key markets of sports performance and animal
science with a combination of both video based and optical motion capture
products.
For the twelve months ended 30 September 2004, Peak had revenues of $3.25
million (£1.8 million) and a profit before tax of $44,300 (£24,600). As at 30
September 2004, Peak's net assets were $597,700 (£330,200). The estimated fair
value of net assets acquired is $356,000 (£192,000) including cash balances of
$207,000 (£108,000).
Julian Morris, Chief Executive, commented: 'We believe that this is an excellent
acquisition for the Group, bringing expansion into the sports market and
video-based motion capture. Peak and Vicon, together, provide a compelling
proposition across a wide market and product range'.
For further information please contact:
Tom Carroll/Tim Thompson, Buchanan Communications. Tel: 020 7466 5000
Julian Morris, Chief Executive, julian.morris@omg3d.com. Tel: 01865 261800
Peter Wharton, Finance Director, peter.wharton@omg3d.com. Tel: 01865 261800
10 February 2005
About OMG
OMG plc (LSE: OMG) is a global leader in the three-dimensional capture and
analysis of movement, providing tools and services for life science,
entertainment and engineering applications. Based in Oxford UK and California
USA, OMG has customers in over 35 countries and is listed on the London Stock
Exchange. The group trades through a number of operating subsidiaries in the
name of Vicon Motion Systems, 2d3 and House of Moves in the UK and USA, and
through a network of distributors in other major countries.
Vicon Motion Systems provides professionals with the latest tools to capture
accurately three-dimensional human motion for research, medicine, sport,
engineering, game development, broadcast and film. 2d3 produces innovative
visual geometry software deriving 3D data from moving images. House of Moves is
the world's most experienced motion capture service studio, producing high
quality motion capture data for the world's largest entertainment production
companies.
For more information about OMG, or its subsidiaries, visit www.omg3d.com,
www.vicon.com, www.2d3.com or www.moves.com.
About Peak
Based in Denver, Colorado, Peak is a market leader in video-based motion
measurement solutions for the sports performance, animal science and other
markets. Founded in 1984, the company started with a video-based biomechanical
analysis tool to help athletes improve their performance in preparation for
Olympic and World competition.
Peak's motion measurement products have expanded from sports to a wide variety
of areas of expertise that include commercial, industrial, medical, engineering,
and biological. The current product, Peak Motus(R), has the ability to combine
video-based acquisition and optical real-time acquisition. This makes the system
particularly robust and flexible, for use in almost any environment - in a
laboratory, outdoors, or even underwater.
For more information about Peak, visit www.peakperform.com.
This information is provided by RNS
The company news service from the London Stock Exchange