Volvere Regulatory News (VLE)

29 Mar 2006 15:43

Volvere PLC29 March 2006 Acquisition Volvere PLC29 March 2006 Volvere plc ("Volvere" or "the Company", or "the Group") Acquisition Volvere, the turnaround investment company, announces today that it has acquired the business and assets of Sira Environmental Certification Ltd. ("Sira Environmental"), as well as some of the business and assets of Sira Technology Ltd.(the "Meerkat" business). Sira Environmental Sira Environmental provides monitoring and conformity assessment solutions to the environmental monitoring community in the specific areas of water quality and emissions monitoring. In addition Sira Environmental operate the MCERTS program for the Environment Agency ("EA") - certifying people and products as conforming to certain EA technical standards. This business is complementary to our existing certification business which certifies equipment and people that operate in explosive or hazardous environments. The unit employs six people and is based in Chislehurst, Kent. Meerkat This business is developing products for the Police service and the Home Office and other defence clients. The principal product, "Meerkat" is software that takes electronic images in any format, and then digitizes and catalogues them. Video streams can then be locked together and viewed simultaneously in real time. The user can make comprehensive notes and comments, which are automatically attached to the relevant frame on the video and stored in a central database for further interrogation. Although this product is under development, prototype versions are already being sold to, and used by, certain clients. The unit being acquired by Volvere employs four people and is based in Chislehurst, Kent. Terms The consideration payable for the business and assets of Sira Environmental and Meerkat is £30,000 in cash. The fair value of the assets acquired is £80,000. We expect that the combined businesses will generate turnover of £0.5m and approximately break even in the first year of ownership. Jonathan Lander, Chief Executive of Volvere, said: "I am very pleased to welcome the new employees to the Group. These acquisitions fit well with our existing businesses and offer above-average growth potential at no, or minimal, cost." For further information, please contact:Volvere plc +44 (0) 20 7575 7596Jonathan Lander, Chief Executive Officer Weber Shandwick Square Mile +44 (0) 20 7067 0700Terry Garrett / Nick Dibden About Volvere Volvere was floated on AIM in December 2002 as an activist investor both in undervalued companies and also in companies that offer the possibility of a turnaround. Its executive directors are the executives of the venture capital and advisory firm Dawnay Day Lander Ltd. Its non-executive directors are Lord Kalms, Neil Ashley and David Buchler. Website: www.volvere.co.uk This information is provided by RNS The company news service from the London Stock Exchange