24th Jan 2007 07:01
Laird Group PLC24 January 2007 24 January 2007 LAIRD EXTENDS CAPABILITY IN WIRELESS SOLUTIONS The Laird Group PLC ("Laird") announces today the acquisition of AeroComm Inc.,a privately held business for a cash consideration of $38.0 million(£19.1 million) on a debt free basis. AeroComm's unique and proprietary technology enables OEMs to buy, rather thandevelop, robust radio frequency ("RF") capability. This enables AeroComm tosupply turnkey wireless communications solutions for its customers' products,through the design and manufacture of complete systems utilising RF moduleswhich provide the functions of signal reception and manipulation, assurance ofsignal integrity, and signal processing and retransmission. These RF modulesprovide wireless communication in applications that previously communicated bycables. AeroComm's products are custom designed from a facility in Lenexa,Kansas, United States. In the year ended 31 December 2006 AeroComm reported operating profits of$2.9 million (£1.5 million). AeroComm and its management will form the core of Laird Technologies' focus onthe high growth market in wireless communications solutions. AeroComm willbenefit from Laird Technologies' greater product development and applicationengineering resources, customer presence and global reach, while the integrationof AeroComm's modules with Laird Technologies' high performance antennae,shielding and signal integrity products will allow the development of a fullwireless systems capability for Laird Technologies. Commenting on the transaction, Peter Hill, Chief Executive of Laird, said: "In an increasingly wireless world, AeroComm 'makes other companies' productswireless'. Our ability to combine AeroComm's development expertise, technologyand products with the global reach, customer base, technology and theperformance critical products of Laird Technologies is extremely exciting.Customers are looking increasingly for wireless systems and complete solutionsthat guarantee signal integrity and enhance RF performance from the 'air to theboard': we can now provide that package." For enquiries: The Laird Group PLC Maitland Peter Hill, Chief Executive Brian Hudspith Jonathan Silver, Finance Director Charlotte Barker Tel: 020 7468 4040 Tel: 020 7379 5151 The Laird Group: Laird is a leading global electronics and security systems group employing some12,500 people in operations in North America, Europe and across Asia. Laird Technologies: Laird Technologies supplies performance critical products, co-designed inconjunction with customers, which are essential in enabling and protecting thefunctionality of electronic devices and wireless applications. LairdTechnologies is a global market leader in the design and supply ofelectromagnetic interference (EMI) shielding, thermal interface products, signalintegrity components, and wireless antennae solutions for all sectors of theelectronics industry, including telecommunications, data transfer andinformation technology, as well as to the automotive, aerospace and defence,consumer electronics, medical and industrial markets. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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