Acquisition and UK Contract Award

RNS Number : 5328C

Digital Barriers plc

02 May 2012

 



RNS REACH

2 May 2012

Digital Barriers plc

("Digital Barriers" or the "Group")

Acquisition and UK Contract Award

- Acquisition of the Intellectual Property and Products of Enterprise Technologies (UK) Ltd -

- UK Contract Award for Digital Barriers' Readily Deployable Surveillance Products -

Acquisition

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 Enterprise Technologies (UK) Ltd, ("E-Tech") (the "Acquisition").

E-Tech's highly trained staff of four each has a background in technical surveillance, military and commercial communications technologies across the defence and security sectors. These employees have now joined Digital Barriers under the terms of the Acquisition.

The board of directors of Digital Barriers believes that the addition of E-Tech's exceptionally skilled staff and their very highly regarded technology capabilities are complementary to those already offered by the Group and will expand the range of solutions the Group can offer to its customers.

Under the terms of the Acquisition, Digital Barriers has acquired the intellectual property, products, know-how, stock, goodwill and certain customer contracts of E-Tech for the purchase on completion of E-Tech stock in the amount of £149,000. In addition, commission will be payable on legacy E-Tech products sold by Digital Barriers in the period between completion and 31 March 2013.

UK Contract Award

Digital Barriers is also pleased to announce that it has secured a contract with a new UK customer for its range of readily deployable urban surveillance products. The initial phase of the contract is valued in excess of £900,000 and may lead to additional awards over the coming months.

For further information please contact:

FTI Consulting	[phone]
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

 

END

 

 

NRASSMFWFFESEDI