Attached files
| file | filename |
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| 8-K - FORM 8-K - ELECSYS CORP | form8k_010510.htm |
| EX-1.1 - EXHIBIT 1.1 - ELECSYS CORP | form8kexh11_010510.htm |
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NEWS
RELEASE
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| 846 N. Mart-Way
Court, Olathe, Kansas
66061
investorrelations@elecsyscorp.com
FOR
IMMEDIATE RELEASE:
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Phone:
913-647-0158
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Fax: 913-647-0132
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ELECSYS CORPORATION ACQUIRES
SENSORCAST, LLC
Olathe,
Kansas (January 5, 2010) - Elecsys Corporation (NASDAQ: ESYS), a leading global
provider of innovative machine to machine (M2M) communication technology
solutions, integrated displays and custom electronics for critical industrial
applications, today announced its acquisition of SensorCast, LLC.
SensorCast,
located in Lenexa, Kansas, provides integrated data collection and reporting
solutions to the pipeline and energy exploration industries. Its
complete end-to-end solutions, encompassing reliable data acquisition hardware,
proprietary communication protocols, and a secure web-based data management
system, have been deployed to monitor and control critical assets on pipelines,
oil and gas wells, storage tanks, pump stations, and other critical
infrastructure. Data from devices monitored by SensorCast technology
can be integrated with existing supervisory control and data acquisition (SCADA)
and database systems, allowing customers to cost-effectively expand their
control systems to manage remote assets.
Elecsys
acquired substantially all of the assets – including accounts receivable,
inventory, and fixed assets, as well as all of the intellectual property and
intangible assets – and assumed certain liabilities of SensorCast in exchange
for $35,000 in cash and 266,325 unregistered shares of Elecsys Corporation
common stock. The Company expects revenue from SensorCast solutions
to exceed $1,000,000 over the next twelve months.
Karl B.
Gemperli, Chief Executive Officer of Elecsys, stated, “Elecsys continues to
achieve revenue growth for our M2M remote monitoring solutions despite the
current global economic environment. As we continue to build our
presence in the M2M market, Elecsys remains focused on developing additional M2M
hardware, software, and communication solutions that provide critical
operational data from remote sites to enhance the efficiency of our customers’
industrial operations. This strategic acquisition of SensorCast
technology broadens our capabilities and complements our suite of proprietary
M2M solutions and will provide our existing customers immediate access to new
technologies and solutions, opening up new potential for growth.”
Gemperli
continued, “As we continue to develop new innovative M2M solutions, we expect to
target new industries and generate a corresponding increase in business
opportunities. We are excited by the rapid growth in worldwide demand
for wireless M2M solutions and
our
established technical expertise, global presence, and brand reputation positions
Elecsys to be a key player in the growth of this developing
market.”
Scott
Tampke, president of SensorCast, commented, “We are proud to join the Elecsys
organization and add the proprietary SensorCast technology to its select group
of premium brands. Together, we offer a strong combination of
innovative M2M solutions to our customers in the oil and gas
industry. We believe that the coupling of SensorCast technology with
the manufacturing, sales, and customer support resources of Elecsys, an
established supplier of remote monitoring devices, will accelerate our growth in
our targeted markets.”
Mr.
Tampke will join the Elecsys management team as Chief Technology
Officer.
About
Elecsys Corporation
Elecsys
Corporation provides innovative machine to machine (M2M) communication
technology solutions for critical industrial applications
worldwide. Elecsys proprietary equipment and services encompass
rugged wireless remote monitoring, mobile computing, and radio frequency
identification (RFID) technologies that are deployed wherever high quality and
reliability are essential. Elecsys also provides integrated displays
and custom electronic assemblies to numerous industries worldwide. Our
primary markets include energy production and distribution, agriculture, natural
resource management, safety systems, and transportation. Elecsys
markets and supports its proprietary technology and products under its
WatchdogCP, NTG, Radix, eXtremeTAG, SensorCast, and DCI brand names. For
more information, visit www.elecsyscorp.com.
Safe-Harbor
Statement
The
discussions set forth in this press release may contain forward-looking comments
based on current expectations that involve a number of risks and uncertainties.
Actual results could differ materially from those projected or suggested in the
forward-looking comments. The difference could be caused by a number of factors,
including, but not limited to the factors and conditions that are described in
Elecsys Corporation's SEC filings, including the Form 10-K for the year ended
April 30, 2009. The reader is cautioned that Elecsys Corporation does not have a
policy of updating or revising forward-looking statements and thus he or she
should not assume that silence by management of Elecsys Corporation over time
means that actual events are bearing out as estimated in such forward-looking
statements.
# # #
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Investor Relations
Contact:
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Todd A.
Daniels
investorrelations@elecsyscorp.com
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| Media Inquiries Contact: | Mary Ann Roe | |
|
(913) 647-0158, Phone
(913)
982-5766, Fax
maryann.roe@elecsyscorp.com
|