Last checked at 29 Aug 2013 07:00
29 August 2013
Vislink plc
Vislink Announces the Acquisition of Amplifier Technology
Vislink plc (the "Group"), the global technology business specialising in high performance wireless communications products and services for the broadcast, defence and security markets, today announces the acquisition of Amplifier Technology for a total maximum consideration of £4.0m cash which includes a maximum earn out of £2.0m to be paid if Amplifier Technology reaches an EBITDA of £3.0m for the year ending 30 June 2014. In order that any earn out is paid, Amplifier Technology must reach a minimum EBITDA of £1.0m.
Amplifier Technology is a leading RF design and manufacturer of amplifiers and jammers for the defence and surveillance market.
Its products compliments Vislink's current range and will benefit from Vislink's global distribution reach.
Amplifier Technology has been consistently profitable over the past three years and in the year ending 30 June 2012 revenues were £4.8m with adjusted EBITDA of £1.1m.
Commenting on the announcement, John Hawkins, Vislink's Executive Chairman, stated "we are pleased to have acquired Amplifier Technology which will enhance our product range in homeland security and defence markets and add to our ability to equip and protect the modern soldier."
Simon Taylor, Director of Amplifier Technology, commented "we are delighted to be joining the Vislink Group which no doubt will give us the opportunity to grow by exploiting the Vislink channels to market."
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For further information, please contact:
John Hawkins, Executive Chairman | +44 (0) 14 88 68 55 00 |
Ian Davies, Group Finance Director | +44 (0) 14 88 68 55 00 |
Charlie Jack/Katie Matthews Hudson Sandler | +44 (0) 20 77 96 41 33 |
Shaun Dobson N+1 Singer | +44 (0) 20 74 96 30 00 |
About Vislink plc
The Vislink Group is a global technology business specialising in the collection and delivery of high quality video and associated data from the field to the point of usage. Vislink provides solutions to the broadcast market for the collection of live news, sport and entertainment events and to the surveillance market including defence, law enforcement and public safety customers. With offices in the UK, USA, Australia, UAE, South Africa and Singapore, Vislink employs over 250 people worldwide. Our solutions include the design and manufacture of microwave radio, satellite transmission, cellular and wireless camera systems; our development and manufacturing operations are in the UK and the USA.
The Company is fully listed on the London Stock Exchange (LSE:VLK).
For further information, visit www.vislink.com.
About Amplifier Technology
Amplifier Technology designs and manufactures leading edge RF High Power Amplifiers for a wide variety of applications. The principal markets it serves are defence, law enforcement, homeland security; commercial and industrial, scientific and medical sectors.
The business, which employs 30 people, has over 30 years' experience in delivering complex RF solutions and is headquartered in Yate, near Bristol.
For further information, visit www.amplifiertechnology.com