BATM acquisition of assets

27 Jul 2005 07:00

BATM Advanced Communications Ld26 July 2005 BATM acquisition of assets from next generation access equipment supplier London, 26 July, BATM Advanced Communications Ltd ("BATM"), a leading designerand producer of broadband data and telecoms systems, today announces that it hasentered into an agreement with the directors of Integral Access Inc, to acquirecertain assets of the company. Integral Access, headquartered in ChelmsfordMassachusetts, is a privately held company that develops, manufactures andmarkets next generation access equipment for the delivery of integrated businessand residential services by service providers. The assets to be acquired will be integrated into Telco Systems', (BATM's whollyowned subsidiary), current product portfolio. The value of the gross assetsacquired is $3.2 million. Integral Access was loss-making in the year ended31st December 2004, largely due to research and development expenditures. BATMis making an initial non-refundable payment of $200,000 for the purchase of theassets. In addition, BATM has agreed to make a further payment based onturnover performance over the next three years, subject to a maximum of $2.1million. The consideration payable will be satisfied from existing cashbalances. The acquisition will enhance BATM's existing customer relationships and expandits product offering. Enquiries: BATM Advanced Communications Ofer Bar Ner - CFO +972 9 866 2530 About BATM Advanced Communications BATM is a world leader in the design and supply of IP packet-based systems suchas high-capacity, self-routing switches with extensive QoS capabilities. Formore information, visit the BATM Advanced Communications web site atwww.batm.com Telco Systems is a wholly owned subsidiary of BATM Advanced Communications(London Stock Exchange ticker symbol: BVC). Based in Foxboro, Massachusetts,the company provides industry-leading networking solutions to the carrier andenterprise markets. Telco Systems' focus is to maximize the power of customers'networks by integrating transport, access, and packet technologies ontoindustry-leading platforms, therefore fully meeting today's and tomorrow'snetwork requirements. For more information, visit the Telco Systems web site atwww.telco.com This information is provided by RNS The company news service from the London Stock Exchange