Acquisition
February 15 2006 - 2:02AM
UK Regulatory
RNS Number:4317Y
Network Technology PLC
15 February 2006
15 February 2006
Network Technology Plc
Acquisition
Network Technology PLC ("NT") announces that it has acquired certain assets of
Madge Limited, the Token-Ring PC card and switch manufacturer, from its
Receiver. From its base in Maidenhead, Madge Ltd is the leading supplier of
Token-Ring LAN products to many of the world's largest enterprises and
government organisations (the Token Ring user community encompasses over 15
million nodes, typically amongst the world's top Fortune 500 companies). NT has
acquired the rights and copyright to Madge's products (principally its
Token-Ring and wireless networking technology), its brand name and website as
well as the remaining inventory.
The products will be sold through NT's wholly owned subsidiary Ringdale Limited.
The acquisition of Madge will make Ringdale the world's largest Token-Ring
provider. It is estimated that the acquisition of Madge could add approximately
US$ 1 million to Ringdale's annual revenues over the next 12 months.
NT will integrate the Madge business into its existing Ringdale operations,
providing a seamless service to Madge's customers. Although Token-Ring products
are becoming a legacy technology, Madge's customers will be able to benefit from
Ringdale's Consultancy expertise in advising on the transfer to the latest
networking technology.
Klaus Bollmann, Chief Executive of NT, commented: "We are very pleased to have
been able to acquire the Madge business and will ensure a continuity of service
to its customers. Madge has a high quality customer base, which will complement
Ringdale's, and will provide opportunities for Ringdale's FollowMe (TM) printing
products and other new technology solutions."
For further information:
Lulu Bridges
Tavistock Communications
Tel: 020 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
END
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