TIDMQDG

RNS Number : 8179Y

Quadnetics Group PLC

04 January 2011

For immediate release 4 January 2011

Quadnetics Group plc

("Quadnetics" or the "Group")

Acquisition

Quadnetics Group plc, a leader in advanced surveillance technology and security networks, announces that it has acquired the entire issued share capital of Persides Technology Limited ("PTL") for a total consideration of up to GBP260,000 in cash.

PTL specialises in advanced battlefield electronic monitoring systems (EMS) and ruggedised hand-held digital video systems (VEEcam (R)) for use in extreme environments. It is an existing technology partner to the Group's defence business, Synectics Defence Systems, and has played an important role in the development of Synectics' latest generation radio frequency detection system, Chili, which will be launched in early 2011, and has already attracted international interest (www.synx.com/chili ).

The acquisition of PTL will augment Synectics' core intellectual property in the defence market and will enable the Group to retain greater margin on sales of Chili. In addition the Group's greater financial strength and sales capability should enable sales of VEEcam to significantly increase through Synectics' existing market channels.

Commenting on the acquisition, John Shepherd, Chief Executive said: "The acquisition of PTL is a significant step forward in the restructuring and repositioning of our defence activities and opens up new market opportunities for the Group."

For further information, please visit www.quadnetics.com or contact:

 
 Quadnetics Group plc                   Tel: +44 (0) 1527 850 080 
  John Shepherd, Chief Executive 
  Email: john.shepherd@quadnetics.com 
 Arbuthnot Securities Limited           Tel: +44 (0) 20 7012 2000 
  Tom Griffiths 
 Buchanan Communications Limited        Tel: +44 (0) 20 7466 5000 
  Tim Anderson / Isabel Podda

END

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQUURORARAARAR

Quadnetics (LSE:QDG)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Quadnetics Charts.
Quadnetics (LSE:QDG)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Quadnetics Charts.