Acquisition

RNS Number : 0373W

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 £450,000, 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:

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.

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