Anite PLC Acquisition (1704G)
March 02 2015 - 2:00AM
UK Regulatory
TIDMAIE
RNS Number : 1704G
Anite PLC
02 March 2015
2 March 2015
ANITE PLC
Acquisition of Trade and Assets of Setcom Wireless Products
GmbH
Broadens Device & Infrastructure Testing business product
portfolio in important adjacent market
Anite plc ("Anite") the leading provider of test and measurement
solutions to the international wireless market, today announces
that it has entered into an agreement to acquire the trade and
assets of Setcom Wireless Products GmbH ("Setcom"), a supplier of
wireless device application test solutions, based in Munich,
Germany and those of its sister company, Setcom Wireless Products
Ltd, based in Malta. The initial consideration of EUR2.6m is
payable in cash on completion and will be funded from Anite's
existing cash resources. Further consideration of up to EUR0.7m is
payable in cash based on first year revenues. The transaction is
expected to complete by 1 April 2015 and will be integrated into
Anite's Device & Infrastructure Testing business.
Setcom products complement Anite's existing conformance and
interoperability test solutions. They are designed to improve
performance and interoperability of wireless devices, whilst
reducing time-to-market and development costs. Setcom's flagship
software solution S-CORE will further expand Anite's device
application testing portfolio into Wi-Fi offload, IP Multimedia
Subsystem ("IMS") based services (e.g. VoLTE) and Rich
Communications Services (the platform that enables the delivery of
communication experiences beyond voice and SMS, providing consumers
for example with instant messaging, live video and file sharing -
across devices, on any network).
Setcom has a strong installed base of customers which includes
mobile network operators, device manufacturersand test houses. The
S-CORE solution includes an application test suite, a rich and
fully-featured user interface, a Multi-RAT test platform (supplied
by third parties) and an established portfolio of over 1,300
operator acceptance and industry certification test scripts which
enable rapid operator acceptance and device certification.
Setcom reported revenues of EUR2.8m in its last financial year
ended 31 December 2014. The acquisition is expected to enhance
Anite's earnings in its 2015/6 financial year. Setcom has 25 staff
who will continue to be based at its Munich headquarters.
Commenting on the acquisition, Christopher Humphrey, Anite's
Chief Executive said:
"I am delighted to announce this product acquisition which is
expected to accelerate Anite's expansion in the application testing
market. This fast growing market is being driven by increasing
operator demand for new applications using the faster speeds of
LTE. The acquisition broadens our Device & Infrastructure
Testing portfolio in an adjacent market with complementary
products, advanced technology and innovative engineers, saving us
R&D time and cost.
"Anite's established market and technology leadership, and its
substantial global sales and support footprint, combined with
Setcom's market-leading, validated test packages for tier one
operators, enhances Anite's offering and growth opportunities."
For further information, please contact:
Anite plc www.anite.com/@AniteNews
Christopher Humphrey, Chief Executive 01252 775200
Richard Amos, Group Finance Director
MHP
Reg Hoare/Giles Robinson/Jack Holden 020 3128 8100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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