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First Trust Dow Jones Select Microcap Index Fund(Intraday Indicative Value) | AMEX:RDM | AMEX | Index |
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RNS Number:6211H The Vitec Group PLC 18 February 2003 18 February 2003 The Vitec Group Vitec acquires Radamec Broadcast Systems for #4.65 million The Vitec Group plc ("Vitec"), the international supplier of products, services and solutions to the Broadcast, Entertainment and Media industries, announces that it has today purchased Radamec Broadcast Systems ("RBS") from Radamec Group PLC for #4.65 million in cash. Vitec has purchased the shares of Radamec Broadcast Systems Limited in the UK and acquired the operating assets and some of the liabilities of Radamec Inc in the USA. No debt has been assumed. RBS designs and manufactures heads and pedestals for broadcast cameras and virtual studio systems for the broadcast and other industries. Commenting on the acquisition, Gareth Rhys Williams, Chief Executive of Vitec said: "RBS expands the range of automated camera control systems available from Vitec group companies, enabling us to serve customers better. The acquisition of RBS will widen the Group's access to non-broadcast applications for pan and tilt heads and adds capability in virtual studio technology." Notes to Editors The Vitec Group plc supplies a wide range of equipment and services to the broadcasting, entertainment, photographic and retail display industries. Its products are distributed in nearly 100 countries, either through dealerships or direct to the end user or corporate sector, and it has manufacturing facilities in five countries. Vitec, with brands such as Sachtler, Vinten, Manfrotto and Clear-Com, is a major force in its chosen specialised fields. -Ends- Contacts: Gareth Rhys Williams Telephone: 020 8939 4650 The Vitec Group plc Rob Gurner Telephone: 020 7269 7221 Financial Dynamics This information is provided by RNS The company news service from the London Stock Exchange END ACQTPMLTMMMBMTJ
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