BOATRACS Acquires Enerdyne Technologies Inc.SAN DIEGO--(BUSINESS WIRE)--July 7, 1998--BOATRACS (BB:BTRK) today announced acquisition of 100 percent of the equity of Enerdyne Technologies Inc., a California corporation and leader in video processing Video processing techniques are used in video codecs, video players and other devices. For example—commonly only design and video processing is different in TV sets of different manufactures. technology for military, ruggedized and commercial applications. The consideration included BOATRACS' common stock as well as cash and notes. The specific details and terms of the transaction were not disclosed. Enerdyne will function as a separate business unit of BOATRACS Inc. Jon S. Gilbert, president and chief executive officer of BOATRACS Inc., stated, "We are extremely excited about this acquisition. Enerdyne has created an enviable presence in high-end quality video technology including a worldwide customer base." Enerdyne designs and builds its products in a dedicated facility in Santee, Calif., that offers electrical, mechanical and software engineering, quality assurance, environmental testing, and system integration. Scott T. Boden, chairman and chief executive officer of Enerdyne, said, "I am excited that what we have built at Enerdyne will have the opportunity to be expanded upon due to this acquisition by BOATRACS." Irene Shinsato, president of Enerdyne, was also very enthused and felt that "the growth prospects resulting from this acquisition domestically and internationally were among the major reasons that the Enerdyne sharholders sold." BOATRACS, with headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. and an office in the Netherlands and Gulfport, Miss., is the distributor in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and European marine markets of the OmniTRACS System, a satellite-based communications and tracking system developed and manufactured by QUALCOMM Inc. The BOATRACS system provides two-way communications between vessels at sea or on inland waterways The list of waterways is a link page for any river, canal, estuary or firth. International waterways
BOATRACS currently has systems on vessels operating on U.S. coasts, Europe, Mexico, Canada, the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , and inland rivers and waterways. BOATRACS provides integrated software Separate software components or applications that have been combined into one package. See integrated software package. solutions and services for tracking, data transmission and network operations for satellite communication systems. Statements within this news release that are not historical facts, including statements about strategies and expectations for new and existing products, technologies, and opportunities, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Risk factors are detailed in the company's Securities and Exchange Commission filings, particularly its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1997.
CONTACT: BOATRACS
Michael Silverman, 619/657-0100
msilverman@boatracs.com
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