Radstone Technology to Acquire Octec Ltd.
Thursday 8 July, 2004 – Radstone Technology today announced that it had agreed to acquire Octec Limited, a privately held UK company that designs and markets rugged, real time, image processing and video tracking equipment to defense and aerospace customers. Radstone is the world’s leading independent supplier of rugged, high-performance, embedded computer products for defense and aerospace applications. Based in Bracknell in the United Kingdom, Octec are market leaders in the design and manufacture of rugged, real-time video tracking and image processing subsystems. The company's wide range of commercial off-the-shelf (COTS) image processors and video trackers are integrated into electro-optical systems that operate in the full range of defense and aerospace environments including air-to-ground, ground-to-ground and naval applications. Computer controlled video target acquisition and tracking is also one of the key technologies enabling the shift by the military to “network-centric” warfare - and the increasing use of Unmanned Aerial Vehicles (UAVs) that require intelligent and powerful video trackers to provide scene and target detection and tracking. Octec’s core competency in image processing and video tracking software and algorithms is highly complementary to Radstone’s computer hardware and subsystem expertise. The acquisition will enable Radstone to supply a wider range of system solutions, including application software as well as hardware and operating systems, without competing with the full system offering of its customers. Commenting on the acquisition, Jeff Perrin, Chief Executive said, “We are very pleased to announce this significant step in Radstone’s strategy. Octec Ltd is a leader in image processors and video trackers in the embedded computing market and will fit extremely well with Radstone’s existing expertise. Ultimately this will enable us to expand our offering to our customers by supplying a range of higher level system solutions.” For full details of the acquisition please visit www.londonstockexchange.com - ends -