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Share Name | Share Symbol | Market | Type |
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Sipef | EU:SIP | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 55.80 | 55.40 | 56.20 | 0.00 | 06:43:53 |
FOR IMMEDIATE RELEASE 3 December 2003 SCIPHER PLC Scipher sells 3D Sound business valued at US$6.4 million The technology development and licensing company, Scipher plc ("Scipher"), is pleased to announce that it has today completed the sale of its 3D Sound business to Creative Technology Ltd. ("Creative") (Nasdaq: CREAF), the worldwide leader in digital entertainment products for PC users. Creative has acquired the business and assets of Scipher's 3D Sound business, Sensaura, including the intellectual property and commercial agreements relating to the business. Creative paid cash on completion of $5.6 million and, in addition, Scipher has retained the outstanding trade debtors of $US0.8 million, valuing the Sensaura business at US$6.4 million. The proceeds of the disposal will be used to strengthen Scipher's balance sheet. Dr Rudolph Burger, Chief Executive Officer of Scipher said: "The sale of Sensaura demonstrates Scipher's ability to create value from commercialising IP, either through licensing or the development of IP-protected businesses which are then spun out or sold." Scipher was advised by Regent Associates, the leading European M&A advisory firm focusing exclusively on technology, media and telecoms. Scipher also announces that it will publish its interim results for the six months ended 30 September 2003 on Wednesday 17 December 2003. Enquiries Financial Dynamics: James Melville-Ross Tel: 020 7831 3113 Juliet Clarke Tel: 020 7831 3113 Scipher plc: Dr Ruldolph Burger, CEO Tel: 020 8848 6555 Michael Kendon Tel: 020 8848 6444 About Scipher Scipher is a technology development and licensing company that delivers value from IP in two principal ways: * Product licensing and sale - commercialising Scipher-owned technology in high growth markets through licensing or the sale of developed products * Patent Licensing - building on Scipher's extensive experience on IP management to create value for clients by exploiting their IP assets through licensing. Scipher's portfolio of advanced technology products and know-how covers the markets for Displays, Secure Identification, Communications, and Sensors. Approximately half of Scipher's revenues are earned outside the UK in approximately 50 countries. Scipher is backed by more than 70 years in advanced R&D, including developments of such historic importance as stereo recording, television broadcasting and the medical CT scanner, which in 1979 won a Nobel Prize for its inventor. For more information on Scipher, visit the website: www.scipher.com END
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