Anite PLC Acquisition (1704G)

TIDMAIE

RNS Number : 1704G

Anite PLC

02 March 2015

2 March 2015

ANITE PLC

Acquisition of Trade and Assets of Setcom Wireless Products GmbH

Broadens Device & Infrastructure Testing business product portfolio in important adjacent market

Anite plc ("Anite") the leading provider of test and measurement solutions to the international wireless market, today announces that it has entered into an agreement to acquire the trade and assets of Setcom Wireless Products GmbH ("Setcom"), a supplier of wireless device application test solutions, based in Munich, Germany and those of its sister company, Setcom Wireless Products Ltd, based in Malta. The initial consideration of EUR2.6m is payable in cash on completion and will be funded from Anite's existing cash resources. Further consideration of up to EUR0.7m is payable in cash based on first year revenues. The transaction is expected to complete by 1 April 2015 and will be integrated into Anite's Device & Infrastructure Testing business.

Setcom products complement Anite's existing conformance and interoperability test solutions. They are designed to improve performance and interoperability of wireless devices, whilst reducing time-to-market and development costs. Setcom's flagship software solution S-CORE will further expand Anite's device application testing portfolio into Wi-Fi offload, IP Multimedia Subsystem ("IMS") based services (e.g. VoLTE) and Rich Communications Services (the platform that enables the delivery of communication experiences beyond voice and SMS, providing consumers for example with instant messaging, live video and file sharing - across devices, on any network).

Setcom has a strong installed base of customers which includes mobile network operators, device manufacturersand test houses. The S-CORE solution includes an application test suite, a rich and fully-featured user interface, a Multi-RAT test platform (supplied by third parties) and an established portfolio of over 1,300 operator acceptance and industry certification test scripts which enable rapid operator acceptance and device certification.

Setcom reported revenues of EUR2.8m in its last financial year ended 31 December 2014. The acquisition is expected to enhance Anite's earnings in its 2015/6 financial year. Setcom has 25 staff who will continue to be based at its Munich headquarters.

Commenting on the acquisition, Christopher Humphrey, Anite's Chief Executive said:

"I am delighted to announce this product acquisition which is expected to accelerate Anite's expansion in the application testing market. This fast growing market is being driven by increasing operator demand for new applications using the faster speeds of LTE. The acquisition broadens our Device & Infrastructure Testing portfolio in an adjacent market with complementary products, advanced technology and innovative engineers, saving us R&D time and cost.

"Anite's established market and technology leadership, and its substantial global sales and support footprint, combined with Setcom's market-leading, validated test packages for tier one operators, enhances Anite's offering and growth opportunities."

For further information, please contact:

Anite plc www.anite.com/@AniteNews

Christopher Humphrey, Chief Executive 01252 775200

Richard Amos, Group Finance Director

MHP

Reg Hoare/Giles Robinson/Jack Holden 020 3128 8100

This information is provided by RNS

The company news service from the London Stock Exchange

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