Sepura PLC Acquires Fylde Micro Limited
Sepura, a leading global provider of critical communications solutions, today announces the acquisition of Fylde Micro Limited ("Fylde", www.fyldemicro.com), the UK-based radio trunking solutions company, for an initial cash consideration of £2.75 million.
Fylde develops and manufactures trunking controllers that enable a simple, low-risk and cost-effective migration from analogue to digital networks.
Gordon Watling, Chief Executive Officer of Sepura, commented: "Fylde's enabling technology adds another dimension to our critical communications portfolio. We expect the combination of our DMR products with Fylde's trunking solutions will further accelerate the migration from analogue to digital by smaller, commercial PMR users."
Fylde reported unaudited revenues for the year ended 31 December 2013 of £1.2 million and was broadly breakeven. Contingent consideration of up to £3.5 million will be payable in cash if Fylde achieves certain EBIT targets over the next two years.
Oakley Capital Corporate Finance acted as financial adviser to Sepura on the acquisition of Fylde.