SBS Technologies to acquire defense-focused company

Carlsbad, Calif. - SBS Technologies announced execution of a letter of intent to acquire Interactive Circuits and Systems (ICS) Ltd., an Ontario, Canada-based provider of advanced board and system level products for data acquisition, signal and image processing, advanced Software Defined Radio (SDR), and wireless applications.

By Gary A. Mintchell, senior editor October 24, 2001

Carlsbad, Calif. – SBS Technologies announced execution of a letter of intent to acquire Interactive Circuits and Systems (ICS) Ltd., an Ontario, Canada-based provider of advanced board and system level products for data acquisition, signal and image processing, advanced Software Defined Radio (SDR), and wireless applications. The purchase price of the acquisition will be disclosed at the time of closing, on or before November 30, 2001. The acquisition is projected to be accretive immediately and will be funded through bank financing.

Combining ICS and SBS competencies enables SBS to design sonar and radar embedded systems for the military market. The ICS engineering team consists of experts in SDR, front end DSP Signal Processing, and high-end data acquisition. ICS and its 33 engineers will join the Government Group of SBS Technologies.

‘The horizontal consolidation of complementary technologies enables SBS to enhance our government systems business by increasing the value add of our customers’ outsourced designs,’ comments Grahame Rance, president and ceo of SBS Technologies. ‘As a result, we will be well positioned to offer all of our markets the solutions they require to remain competitive in the time to market race.’

‘Integrating these products and technologies will provide a catalyst for ICS products to penetrate new markets, by leveraging SBS’ strong presence in the communications and commercial arenas,’ states Dr. Dipak Roy, president and ceo of ICS.

‘In addition, we will be able to offer our vast military customer base an expanded scope of embedded systems.’ ‘In today’s attractive M&A environment, SBS will continue to pursue companies with advanced technologies that are complementary to our three business segments,’ states Dan Moore, executive vice president Business Development, SBS Technologies.