20th May 2014 10:50
LONDON (Alliance News) - Sepura PLC said Tuesday it has acquired UK-based radio trunking firm, Fylde Micro Limited, in a GBP2.75 million cash deal.
Fylde develops and manufactures trunking controllers that enable a simple, low-risk and cost-effective migration from analogue to digital networks.
"Fylde's enabling technology adds another dimension to our critical communications portfolio. We expect the combination of our DMR products with Fylde's trunking solutions will further accelerate the migration from analogue to digital by smaller, commercial PMR users, " said Gordon Watling, Chief Executive of Sepura.
Fylde reported unaudited revenues for the year ended December 31, 2013 of GBP1.2 million and was broadly breakeven, said Sepura.
Under the terms of the deal, a contingent consideration of up to GBP3.5 million will be payable in cash if Fylde achieves certain EBIT targets over the next two years.
Oakley Capital Corporate Finance acted as financial adviser to Sepura on the acquisition of Fylde.
Shares in Sepura were flat at 137.00 pence per share Tuesday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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