Advanced Communications Technologies -- Australon Limited -- New Acquisition & CEO Conference Call.Business Editors LOS ANGELES--(BUSINESS WIRE)--Feb. 15, 2001 Advanced Communications Technologies Inc. (ACT-US) (OTCBB:ADVC ADVC - Analog to Digital Video Converter) today announced that one of its Australian based associate companies, Australon Limited (ASX:AUR) has entered into an agreement to acquire all outstanding shares of Environmental Control Services Pty Ltd (ECS), a Melbourne, Australia based network integrator focusing on the building automation industry. The proposed acquisition is expected to be extremely complementary to the Australon enterprise, both in Australia and in the United States. Established some 14 years ago, ECS operates a successful business in the design and installation of monitoring and control systems for building and industrial applications. As a formally accredited LonWorks Network Integrator, ECS will provide Australon with a wide range of benefits accessible through the Integrator program, which include: -- Field sales support -- Trade show support -- Design review and -- Access to Echelon (Nasdaq:ELON) distributed control products at special rates. Additionally, the proposed acquisition will enable Australon to tap the skill base of ECS staff who have extensive experience in the design and installation of LonWorks based products. The combination of these skills with Australon's technical design team will be a key factor in significantly minimizing Australon's lead times in establishing a substantial market base in the increasing and substantial global market for remote monitoring and control products for the building industry. With recent data indicating that annual turnover for the global building automation market has exceeded $US13 billion, Australon is devoting a significant proportion of its resources to the completion of its new BASII (Building Automation System) devices which will enhance and supersede its current BAS products. The acquisition of ECS will ensure that Australon has the necessary framework and implementation structure to both rapidly distribute and install these products. "The proposed acquisition of ECS greatly enhances Australon's ability to tap into the global building automation market," said Roger May, Chairman of ACT-US. "With an established customer base of major international players such as Kraft Foods, Ericsson (Nasdaq:ERICY) and Kodak (NYSE:EK), ECS provides the ideal platform for distribution and implementation of Australon's growing range of products." The proposed acquisition will be funded by the payment of cash and shares in Australon Limited and is subject to the satisfactory completion of due diligence and an independent valuation. CEO Conference Call In order to elaborate on recent key corporate developments, Advanced Communications Technologies will be holding a conference call on Tuesday, 20 February 2001 at 7pm US Eastern Time. Those wishing to participate on the day should call Toll Free 877/407-9225 and enter passcode 6163087 followed by the # symbol. About Advanced Communications Technologies Advanced Communications Technologies is a leader in the field of Software Defined Radio that has developed a proprietary, multiple-protocol wireless base-station -- SpectruCell. Through eliminating the use of Qualcomm (Nasdaq:QCOM) chipsets, protocol specific hardware and by conducting all signal processing in software, SpectruCell provides for simultaneous support of multiple mobile communications protocols (CDMA, WCDMA, UMTS, GSM & 3G) all in the same base station. Support for additional protocols is achieved through the uploading of additional software modules. By implementing the company's SpectruCell technology network providers will be able to maintain service to their existing customer base and preserve the full utilization of their existing network infrastructure while at the same time securing a highly flexible migration path for evolving 3G-based protocols such as WCDMA and UMTS. SpectruCell is complemented by several other wireless technologies currently under development in Australia. Advanced Communication Technologies Inc. plans to market these products throughout North, South and Central America. For more information regarding Advanced Communications Technologies, visit www.act-usa.net. The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized. |
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