Business
Acquisition
Acquisition.
About this update from Dialight Plc
[{"type":"text","content":"\n Dialight PLC\n11 January 2006\n\n\n \nDate: Immediate release:\n Wednesday 11 January 2006\n\nContacts: Roy Burton - Group Chief Executive\n Cathy Buckley - Finance Director\n Dialight PLC\n Tel: 01480 447490\n\n Alistair Mackinnon-Musson\n Philip Dennis\n Hudson Sandler\n Tel: 020 7796 4133\n Email: [email protected]\n\n\n\n DIALIGHT PLC\n\n Acquisition of Lumidrives Ltd\n\n\nDialight Plc, the UK based leader in Applied LED Technology, announced the\nacquisition from Management of 100% of the shares of Lumidrives Ltd for £2.45m\nin cash and £550k in Dialight Shares.\n\nBased in the UK, Lumidrives is one of the leading suppliers of Solid State\nLighting Fixtures and Components to the European Architectural Lighting Market.\nOver the last four years, the company has grown to a revenue of over £3m and has\ngross assets of over £1 million. It has an extensive customer base, excellent\ngrowth prospects and a solid portfolio of intellectual property. The Senior\nManagement of Lumidrives, Gordon Routledge and Alison Ambler have committed to\nremaining with the company and will be responsible for Dialight's growth in the\nEuropean Solid State Lighting Market. Further details of Lumidrives' products\ncan be found at www.lumidrives.com. The acquisition is expected to be earnings\nenhancing in 2006.\n\nCommenting Chief Executive Roy Burton said:\n\n'We are pleased to have made this acquisition of Lumidrives which will position\nDialight in the emerging Solid State Lighting Market in Europe. We are acquiring\nnot only good product, but also a strong customer base and an enthusiastic and\ncapable Management Team who have demonstrated by results their ability to grow\nprofitably in this market. I expect this to be an enhancement to earnings in\n2006.'\n\n - ENDS -\n\n\n\nAbout Dialight\n\nDialight Plc is one of the world's largest suppliers in the field of Applied LED\nTechnology. It operates in two principal segments; Components where low\nbrightness LEDs are used for status indication in electronic equipment; and\nSignals/Illumination utilizing the latest high brightness LED technology for\nTraffic and Rail Signals, Obstruction Lighting and Industrial and Architectural\nLighting. Lumidrives will enhance the scope and geographical presence of the\nhigh growth Signals/Illumination segment.\n\n\n\n This information is provided by RNS\n...