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Technology Stocks : Applied Cellular Technology (ACTC)
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To: James F. Hopkins who wrote (897)6/8/1998 5:23:00 PM
From: Bedrock  Read Replies (1) of 1062
 
Monday June 8, 10:15 am Eastern Time

Applied Cellular acquires British firm

PALM BEACH, Fla., June 8 (Reuters) - Applied Cellular Technology Inc. said Monday it had acquired Signature Industries, a London-based manufacturer of
communications and safety devices. Terms were not disclosed.

The acquisition is expected to add about $20 million in revenues and $2.5 million in earnings before interest and taxes to Applied Cellular over the coming year. The
effective accounting date of the acquisition is June 1.

Signature supplies to worldwide armed forces its Search and Rescue Beacon Equipment (S.A.R.B.E.), used as a communication rescue device by special forces and
military pilots. Signature employs 200 people at its electronic manufacturing facility in London.

Applied Cellular provides infrastructure services and equipment to the communications industry.

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