CalAmp Announces Agreement to Acquire SmartLink Radio Networks.Acquisition Expands CalAmp's Addressable Reachable. When something is addressable, it can be identified and manipulated independently of its surroundings. For example, screen pixels and RAM memory are addressable. Each of the screen's picture elements can be individually turned on and off, and each of the memory's bytes can be Market of Public Safety Mobile Communication Infrastructure OXNARD, Calif. -- CalAmp Corp. (Nasdaq:CAMP), a leading provider of wireless communication solutions, announced today that it has entered a definitive agreement to acquire SmartLink Radio Networks, a privately-held company that provides proprietary interoperable The ability for one system to communicate or work with another. See interoperability. radio communications platforms and integration services for public safety and critical infrastructure needs. Based on a software defined switch, SmartLink's platform provides interoperability The capability of two or more hardware devices or two or more software routines to work harmoniously together. For example, in an Ethernet network, display adapters, hubs, switches and routers from different vendors must conform to the Ethernet standard and interoperate with each other. without the need to replace the installed base of land mobile radios. "I am pleased to announce the agreement to acquire SmartLink, which represents another step forward in our strategy to build a significant business in the growing public safety communications marketplace," said Fred Sturm, President and Chief Executive Officer of CalAmp. "This acquisition further enhances CalAmp's competitive position with a public safety voice network solution that can be marketed through our existing channels. With over 90 worldwide installations, SmartLink has a proven product that is well positioned to benefit from the growing demand for cost effective interoperable mobile communication systems. CalAmp's Dataradio operation will provide the sales, integration engineering and operations infrastructure needed to scale the SmartLink business. We believe that the addition of SmartLink will improve CalAmp's overall competitive position by addressing both the data and voice communications requirements of our customers." SmartLink generated unaudited revenues of approximately $2.3 million during the trailing 12 month period ended February 28, 2007. SmartLink is currently in the process of deploying its platform for several important customers including Solano County, Calif., the U.S. Department of Justice in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and Grand Bahama Grand Bahama: see Bahamas. Power Company. Depending on the size and scope of a deployment, a SmartLink system sale generates revenues in the range of one hundred thousand dollars to several million dollars. CalAmp expects significant revenue growth for the Smartlink business during the next 12 months based on the current backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of approximately $3.5 million and additional expected near-term deployments. Under terms of the agreement, CalAmp will pay the sellers $8.1 million cash and will acquire certain assets and assume certain liabilities of SmartLink. CalAmp will transition SmartLink's operations in Wallingford, Connecticut Wallingford is a town in New Haven County, Connecticut, United States. The population was 43,026 at the 2000 census. History Wallingford was established on October 10, 1667, when the Connecticut General Assembly authorized the "making of a village on the east river" to to its Dataradio facilities in Montreal, Canada and Atlanta, Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. over the next several months. The acquisition is expected to be accretive to CalAmp in the first year after excluding amortization of intangible assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. and a one time charge for In Process R&D arising from the acquisition. The transaction is subject to customary closing conditions and is expected to be completed within the next several weeks. About CalAmp Corp. CalAmp is a leading provider of wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective high quality solutions to a broad array of customers and end markets. CalAmp is the leading supplier of Direct Broadcast Satellite (DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. ) outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. For additional information, please visit the Company's website at www.calamp.com. About SmartLink Radio Networks Inc. SmartLink is a privately held technology company headquartered in Wallingford, Connecticut. SmartLink designs, develops and manufactures interoperable radio communications platforms for use in public safety/service, critical infrastructure and commercial applications. SmartLink has deployed over 90 systems worldwide, including numerous mission critical radio systems for domestic and international police and governmental security forces and power utilities. SmartLink's software-defined network breaks down the barriers created by different radio frequencies and protocols, seamlessly integrating with legacy equipment. The result is a cost-effective and flexible networked radio environment that delivers interoperability, while allowing customers to easily adapt and expand to future technologies. For more information, please visit the SmartLink website at www.smrlink.com. Forward-Looking Statement 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. Statements in this press release that are not historical in nature are forward-looking statements, which involve known and unknown risks and uncertainties. Words such as "may", "will", "expect", "intend", "plan", "believe", "seek", "could", "estimate", "judgment", "targeting", "should", and variations of these words and similar expressions, are intended to identify forward-looking statements. Actual results could differ materially from those implied by such forward-looking statements due to a variety of factors, including general and industry economic conditions, competition, the timing of customer approvals of new product designs, operating costs operating costs npl → gastos mpl operacionales , the Company's ability to efficiently and cost-effectively integrate its acquired businesses, and other risks and uncertainties that are detailed from time to time in the Company's filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained at·tain v. at·tained, at·tain·ing, at·tains v.tr. 1. To gain as an objective; achieve: attain a diploma by hard work. 2. . The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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