Business
Acquisition of Gigawave Limited
Acquisition of Gigawave Limited.
About this update from Pebble Beach Systems Group Plc
[{"type":"text","content":"\n \nRNS Number : 7904H Vislink PLC 03 June 2011 \n \n\nVislink plc \nAcquisition of Gigawave Limited\n3 June 2011\n \nVislink plc (the \"Group\"), the global technology business specialising in secure communications products and services for the news & entertainment and law enforcement & public safety markets, today announces that on 2 June 2011 it acquired the entire issued share capital of Gigawave Limited (\"Gigawave\") for a cash consideration of £3.75 million (the \"Acquisition\").\n \nBased in Colchester, Essex, Gigawave is privately owned by a number of individual shareholders and employs 87 people. Gigawave is a leading designer, manufacturer and supplier of wireless camera, microwave and antenna products for the broadcast market. Gigawave has a particular strength in \"on-board\" applications for motorsport events around the world. Gigawave will complement and broaden the Groups capabilities in terms of engineering, product portfolio and geographic reach and will therefore strengthen the Groups position in its broadcast market. \nGigawave will be integrated into the Group's UK operations so as to realise the benefits expected from improved global distribution of all the Vislink brands and operational efficiencies. Gigawave's founder and existing Managing Director, Henry Barczynski, MM will serve the Group as Chief Marketing Officer reporting to the Chief Executive, John Hawkins.\n \nFor the financial year ended 30 April 2010, Gigawave generated audited sales of £12.53 million and a loss before tax of £0.97 million. As at 30 April 2...