Network Technology - Acquisition
October 27 1997 - 2:30AM
UK Regulatory
RNS No 6419a
NETWORK TECHNOLOGY PLC
27th October 1997
NETWORK TECHNOLOGY TO ACQUIRE BITS PER SECOND LTD.
FOR APPROXIMATELY #300,000
Network Technology, which specialises in the design and manufacture of
printservers, routers, hubs, plotters and network management software, has
signed non-binding heads of agreement to acquire Bits Per Second Ltd (BPS),
which is based in Brighton, East Sussex, for a consideration of 128,000 NT
shares and #87,000 in cash.
BPS specialises in the areas of graphics and graphical user interfaces for
Windows '95/97/NT, client-server, SQL databases, networking and tape backup.
It developed the award-winning Graphics Server, the industry-standard graphing
tool for Windows developers, which has been licensed by Microsoft. BPS also
licenses its technology to Borsu Systema, IBM's storage partner in the
Netherlands, as well as Sony Corporation in Japan. The technology developed
by BPS is used in its own products as well as the products it develops for
OEMs (Original Equipment Manufacturers). It also offers corporate clients
consultancy, training and technical support services.
Commenting on the proposed acquisition, Klaus Bollmann, Chief Executive of
Network Technology said: "One of BPS's main areas of expertise is in backup
and storage system software. BPS are at the forefront of this technology and
its expertise which, coupled with our recent acquisition of a storage system
patent for disk shaped media, will give us an excellent platform from which to
continue our development of a number of large storage system products. This
deal will significantly strengthen our position in this field and enable
Network Technology to deliver a new range of products to the market earlier
than scheduled in a move that will produce significant revenue for the Group
in the coming years."
Enquiries to:
Klaus Bollmann Network Technology PLC Tel: 01444 870408
Kyoko Macdonald Network Technology PLC Tel: 01448 870408
(Japanese enquiries)
Duncan Barkes Network Technology PLC Tel: 01444 870408
(Press enquiries)
Leo Cavendish Bankside Consultants Tel: 0171 220 7477
John Marsh Bits Per Second Ltd Tel: 01273 727119
END
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