Quixant PLC Completion of Acquisition (2713F)
November 11 2015 - 2:01AM
UK Regulatory
TIDMQXT
RNS Number : 2713F
Quixant PLC
11 November 2015
Quixant plc
("Quixant" or the "Company")
Completion of acquisition of Densitron Technologies plc
("Densitron")
Quixant (AIM:QXT), a leading provider of specialised computing
platforms for casino gaming and slot machine applications, is
pleased to announce completion of the acquisition of Densitron
Technologies plc for a total consideration of approximately
GBP7.66m.
Densitron is an electronic display solution provider employing
59 staff in 7 countries. It has established businesses in a wide
range of industrial sectors and is recognised as being a leading
provider of display solutions. With a global sales team experienced
in selling to industrial markets, the acquisition provides a robust
platform for delivering Quixant's computer products to wider
industrial markets outside gaming. In addition, Densitron's
extensive product catalogue significantly widens the range of
solutions which Quixant can offer, building on their existing
monitors business for the gaming industry.
Quixant has established electronic design and Far Eastern
manufacturing capabilities which will be leveraged by Densitron to
enhance value and quality.
Quixant plan to maintain Densitron as a separate division within
the Group.
It is expected that the acquisition will be significantly
earnings enhancing in the first full year of ownership.
Commenting on the completion of the acquisition Nick Jarmany,
Chief Executive of Quixant, said: "I am excited that we have
completed on the acquisition of Densitron. It provides us with a
widened global footprint and exposure to a range of industrial
markets through their experienced sales team while taking advantage
of the synergy and collaboration benefits which have already been
identified. This will allow our Quixant management team to remain
focused on developing the existing core business.
"The acquisition also complements Quixant's move into the
provision of displays to our gaming customers, alongside the
specialised computer systems we currently supply."
For further information please contact:
Quixant plc Tel: +44 (0) 1223 892696
Nick Jarmany, Chief Executive
Jon Jayal, General Manager
Nominated Adviser and Broker:
finnCap Ltd Tel: +44 (0) 20 7220 0500
Matt Goode (Corporate Finance)
Grant Bergman (Corporate Finance)
Simon Johnson (Corporate Broking)
Financial PR:
Alma PR
John Coles Tel: +44 (0) 7836 273 660
Hilary Buchanan Tel: +44 (0) 7515 805 218
About Quixant
Quixant, founded in 2005, designs and manufactures complete
advanced hardware and software solutions (Gaming Platforms) for the
pay-for-play gaming and slot machine industry. The Company is
headquartered outside of Cambridge in the UK. Quixant UK Ltd is
responsible for the group's global (excluding North America) sales
function and its Las Vegas based subsidiary, Quixant USA Inc, is
responsible for sales and sales support to the North American
market. Quixant has its own manufacturing and engineering operation
in Taiwan, which has evolved with the rapid growth of the Company.
Quixant's Italian subsidiary, Quixant Italia, houses the Group's
software engineering and customer support team.
Quixant's high quality, specialised products provide an
all-in-one solution, based on PC technology but with augmentative
hardware features and operating software developed specifically to
address the requirements of the gaming industry. Products feature
innovative mechanical designs which are optimised for operation in
the gaming and slot machine environment. Quixant's proprietary
hardware and embedded software is flexible in its design, enabling
Quixant to easily respond to changes in regulation or customers
operating in different markets or jurisdictions.
In-depth information on the Company's products, markets,
activities and history can be found on the corporate website at
www.quixant.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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