Acquisition
January 24 2012 - 2:00AM
RNS Non-Regulatory
TIDMDGB
Digital Barriers plc
24 January 2012
RNS REACH
24 January 2012
Digital Barriers plc
("Digital Barriers" or the "Group")
Acquisition of the Intellectual Property and Products of LMW
Electronics Limited
Digital Barriers plc (AIM: DGB), the specialist provider of
advanced surveillance technologies to the homeland security and
defence sectors, is pleased to announce the acquisition of the
complete product set and intellectual property, along with certain
customer contracts, of LMW Electronics Limited ("LMW") (the
"Acquisition").
With more than 28 years of experience in the electronic
surveillance industry, LMW's products provide advanced video
capture and transmission technology to the international law
enforcement and military markets. Its leading edge products include
ruggedised video cameras, outstations, vehicle and body-worn
solutions, controller units and low-power point-to-point video
transmission solutions.
The board of directors of Digital Barriers believes that the
addition of LMW's product set and technology capabilities are
complementary to those already offered by the Group and will expand
the solutions the Group can bring to its customers. The LMW
products and associated intellectual property will form part of the
readily deployable product range that Digital Barriers is
developing for its customers around the world.
Terms of the Acquisition
Under the terms of the Acquisition, Digital Barriers will
acquire the intellectual property, products, know-how, stock,
goodwill and certain customer contracts of LMW for a consideration
of GBP450,000, payable to LMW in cash upon completion of the
Acquisition.
LMW will provide certain manufacturing and repair services to
Digital Barriers from its existing premises in Leicester following
the transfer of the business. LMW will also continue to provide
warranty and repair services to its existing customers on
historical product sales.
For further information please contact:
+44 (0)20 7831
FTI Consulting 3113
Edward Bridges / Matt Dixon / Elodie
Castagna
About Digital Barriers
Digital Barriers provides advanced surveillance technologies to
the international homeland security and defence markets.
Specialising in 'edge-intelligent' solutions that can be deployed
across remote, hostile or complex operating environments, we work
with governments, multinational corporations and system integrators
in the defence, law enforcement, critical infrastructure,
transportation and natural resources sectors.
www.digitalbarriers.com
Disclaimer
This announcement includes statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates", "plans",
"projects", "anticipates", "expects", "intends", "may", "will", or
"should" or, in each case, their negative or other variations or
comparable terminology. These forward-looking statements include
matters that are not historical facts. They appear in a number of
places throughout this announcement and include statements
regarding the Group's current intentions, beliefs or expectations
concerning, among other things, the Group's results of operations,
financial condition, liquidity, prospects, growth, strategies and
the Group's markets. By their nature, forward-looking statements
involve risk and uncertainty because they relate to future events
and circumstances. Actual results and developments could differ
materially from those expressed or implied by the forward-looking
statements. Forward-looking statements may and often do differ
materially from actual results. Any forward-looking statements in
this announcement are based on certain factors and assumptions,
including the Group's current view with respect to future events
and are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Group's operations,
results of operations, growth strategy and liquidity. Whilst the
Group considers these assumptions to be reasonable based upon
information currently available, they may prove to be incorrect.
Save as required by law or by the AIM Rules for Companies, the
Group undertakes no obligation to publicly release the results of
any revisions to any forward-looking statements in this
announcement that may occur due to any change in the Group's
expectations or to reflect events or circumstances after the date
of this announcement.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
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