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SPECTRACOM ANNOUNCES ACQUISITION OF KSI25 December 2005
(PRLEAP.COM) Spectracom Corporation announced today the closing of its acquisition of KSI Corporation, a subsidiary of DSPCon, Inc. based in Bridgewater, New Jersey. KSI is a leading provider of bus-level timing boards to military, aerospace, telecommunications, and test and measurement markets. In conjunction with this transaction, Spectracom also announced the closing of an equity transaction supported by Trillium Group, through which the Company raised $500,000 for working capital to support the launch of this new business and strategic initiatives in Telecom. Terms of the acquisition were not disclosed.
“We are delighted to add the KSI product line to our portfolio,” said Lisa Withers, president and CEO. “Time and frequency customers have a wide variety of applications that require an equal variety of product platforms to choose from. With the addition of bus-level timing boards, we will be able to more fully serve the needs of the Aerospace and Defense markets as well as cross-sell our existing products to this important business segment.”
The company reported that it will relocate KSI operations to Rochester within the next several days. “We want to be in the best position possible to support our customers and have been working towards a seamless transition with logistics, sales, and service for the past several months,” said Alan Olderstein, Vice President of Sales and Marketing. “Toward that end, we have met with field sales representatives and hired staff in sales, marketing, and engineering to support this new business.”
Concluded Ms. Withers, “I can’t be more pleased with the local business community and shareholder support of our growth plans. KSI is one of many undertakings for Spectracom and we look forward to an exciting new year for the company.”
About Spectracom Corporation
Spectracom Corporation designs, develops and manufactures Legally Traceable Time® and frequency products that are used in a wide variety of telecommunication and IP networks in the Public Safety, Enterprise, Telecom and Government markets. Founded in 1972, Spectracom's worldwide headquarters is located in Rochester, New York. Spectracom is an ISO 9001:2000 registered company. For more information, visit www.spectracomcorp.com
About DSPCon, Inc.
DSPCon, Inc. is a world leader in the development of real-time data acquisition and analysis systems for use in a variety of applications including acoustic analysis, shock and vibration analysis, rotating machinery analysis, digital recorder applications, radar and sonar applications, and software radio systems. DSPCon, Inc. is an ISO 9001:2000 registered company. For more information, visit www.dspcon.com.
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Source: prleap
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