MONTREAL, Oct. 12 /CNW Telbec/ - Mindready Solutions Inc. (TSX: MNY), a
leading supplier of innovative solutions for test and embedded systems,
announces the acquisition of Radical Systems, Inc. ("Radical Systems"), an
Alabama-based systems integrator specializing in automated tests, measurement,
data acquisition, machine vision and process control systems to customers in
the south-eastern United States with sales of approximately 2 million US
dollars for the first half of 2005. The transaction was completed through its
U.S. subsidiary, Mindready Solutions (USA) Holdings Inc.
"This acquisition provides us a strong entry into the defense/aerospace
and automotive/transportation test engineering markets and a solid business
with a diversified list of blue chip customers. Test solutions for the
defense/aerospace and automotive/transportation markets are a huge opportunity
and Radical Systems is well-positioned for growth.," said Claude Delage,
President and CEO of Mindready Solutions. "We see great synergies for cross-
selling our value added services to Radical Systems' customer base and for
offering their advanced test solutions to our customers."
"Radical Systems is a profitable company and this transaction will have
an immediate positive impact on our fourth quarter results," said Marc Lamy,
Chief Financial Officer of Mindready Solutions.
"We are excited to be joining Mindready Solutions and we look forward to
working with our new colleagues to sustain Radical Systems's rapid growth and
to offer their services to our customer base such as NASA, Boeing, National
Instruments, Panasonic, Motorola, Nissan, Ford, Borg Warner and Sanmina," said
James L. Slemp, CEO of Radical Systems.
About Mindready
Mindready Solutions Inc. (TSX: MNY) is a leading supplier of innovative
solutions for test and embedded systems serving the defense/aerospace,
automotive/transportation and telecommunications markets from design to
manufacturing. Mindready's clients include companies such as Lockheed Martin,
Raytheon, Northrop Grumman, Boeing, Visteon, Rockwell Collins, Renault,
Harris, Flextronics, Nortel and Alcatel. More information about Mindready and
its products, systems and engineering services can be found at
www.mindready.com .
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