News

News

December 2010

Acquisition of Amscreen M2M

Brulines Group plc (AIM:BRU), the leading provider of real time monitoring systems and data management services for the leisure and forecourt services sectors, is pleased to announce that its wholly-owned subsidiary Comtech M2M Limited (“Comtech”) has today acquired the machine-to-machine business (“Amscreen M2M”) of Amscreen Limited, the digital signage group. Comtech has paid an initial cash consideration of £2.0 million to acquire the trade, intellectual property and stock of Amscreen M2M with a further element of deferred consideration of up to £1.4 million which may become payable in the future depending upon Amscreen M2M achieving certain milestones. Reported gross assets of Amscreen M2M as at 31 October 2010 were £208,000. Amscreen M2M is based in Bolton and employs nine staff, all of whom will transfer to Comtech as part of the transaction. Amscreen M2M is involved in delivering next-generation data collection and monitoring platforms. The Group has been using Amscreen M2M’s patented technology for the last two years for hardware design, development and associated data collection, particularly in relation to Brulines’ i-draught™ product. Amscreen M2M typically generates its revenue from a sale of hardware products, followed by a software licence for a period of between three and five years. The Directors believe that the acquisition of Amscreen M2M is extremely complimentary as it underpins the leading edge technology the Group has in relation to the services it provides with its’ i-draught™ and vending telemetry solutions. The acquisition also provides the Group with a dedicated technology business to further develop and enhance its products and services, and to reduce the time to market, as it seeks to achieve globally scalable market penetration for its’ i-draught™, fuel and vending solutions. Amscreen M2M also provides the Group with significant further expansion opportunities through its telemetry product lines and customers. As a division of Amscreen Limited, there is no statutory financial information for Amscreen M2M; however, in the year ended 30 September 2010, the management accounts for Amscreen Limited showed that Amscreen M2M generated revenues of £1.4 million, including turnover to the Group.

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