Dialight Regulatory News (DIA)

11 Jan 2006 14:25

Dialight PLC11 January 2006 Date: Immediate release: Wednesday 11 January 2006 Contacts: Roy Burton - Group Chief Executive Cathy Buckley - Finance Director Dialight PLC Tel: 01480 447490 Alistair Mackinnon-Musson Philip Dennis Hudson Sandler Tel: 020 7796 4133 Email: dialight@hspr.com DIALIGHT PLC Acquisition of Lumidrives Ltd Dialight Plc, the UK based leader in Applied LED Technology, announced theacquisition from Management of 100% of the shares of Lumidrives Ltd for £2.45min cash and £550k in Dialight Shares. Based in the UK, Lumidrives is one of the leading suppliers of Solid StateLighting Fixtures and Components to the European Architectural Lighting Market.Over the last four years, the company has grown to a revenue of over £3m and hasgross assets of over £1 million. It has an extensive customer base, excellentgrowth prospects and a solid portfolio of intellectual property. The SeniorManagement of Lumidrives, Gordon Routledge and Alison Ambler have committed toremaining with the company and will be responsible for Dialight's growth in theEuropean Solid State Lighting Market. Further details of Lumidrives' productscan be found at www.lumidrives.com. The acquisition is expected to be earningsenhancing in 2006. Commenting Chief Executive Roy Burton said: "We are pleased to have made this acquisition of Lumidrives which will positionDialight in the emerging Solid State Lighting Market in Europe. We are acquiringnot only good product, but also a strong customer base and an enthusiastic andcapable Management Team who have demonstrated by results their ability to growprofitably in this market. I expect this to be an enhancement to earnings in2006." - ENDS - About Dialight Dialight Plc is one of the world's largest suppliers in the field of Applied LEDTechnology. It operates in two principal segments; Components where lowbrightness LEDs are used for status indication in electronic equipment; andSignals/Illumination utilizing the latest high brightness LED technology forTraffic and Rail Signals, Obstruction Lighting and Industrial and ArchitecturalLighting. Lumidrives will enhance the scope and geographical presence of thehigh growth Signals/Illumination segment. This information is provided by RNS The company news service from the London Stock Exchange