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20 May 2014 07:00
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Sepura PLC
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("Sepura" or the "Company")
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Acquisition of Fylde Micro Limited
Sepura, a leading global provider of critical communications solutions, today announces the acquisition of Fylde Micro Limited ("Fylde", www.fyldemicro.com), the UK-based radio trunking solutions company, for an initial cash consideration of Β£2.75 million.
Fylde develops and manufactures trunking controllers that enable a simple, low-risk and cost-effective migration from analogue to digital networks.
Gordon Watling, Chief Executive Officer of Sepura, commented: "Fylde's enabling technology adds another dimension to our critical communications portfolio.Β We expect the combination of our DMR products with Fylde's trunking solutions will further accelerate the migration from analogue to digital by smaller, commercial PMR users."
Fylde reported unaudited revenues for the year ended 31 December 2013 of Β£1.2 million and was broadly breakeven. Contingent consideration of up to Β£3.5 million will be payable in cash if Fylde achieves certain EBIT targets over the next two years.
Oakley Capital Corporate Finance acted as financial adviser to Sepura on the acquisition of Fylde.
Ends
Further information:
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Sepura Gordon Watling, Chief Executive Officer Steve Chamberlain, Chief Financial Officer Peter Connor, Investor Relations Β | +44 (0) 1223 876000 |
Bell Pottinger (Financial PR) Olly Scott Charlie Goodwin Β | +44 (0) 20 7861 3232 |
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Cautionary Statement:
This announcement contains certain forward-looking statements with respect to the operations, performance and financial condition of Sepura. By their nature, future events and circumstances can cause results and developments to differ from those anticipated. Nothing in this announcement should be construed as a profit forecast. No undertaking is given to update the forward-looking statements whether as a result of new information, future events or otherwise.
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Notes to Editors:
Sepura is a global leader in the design, manufacture and supply of digital radios, infrastructure and applications for Professional Mobile Radio ("PMR") users, providing specialist solutions for the public safety, transportation, oil and gas, mining, utilities, industrial and other commercial sectors.
Headquartered in Cambridge, England and employing over 300 staff, Sepura was admitted to the Official List of the London Stock Exchange on 3 August 2007.
www.sepura.com
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www.fyldemicro.com
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