Cycomm Signs Letter of Intent to Buy Omnidata International Inc.
Acquisition Gives Cycomm Entry to Commercial Vehicle Market For Mobile Computers
MCLEAN, Va., Nov. 25 /PRNewswire/ -- In a major expansion of its rugged and secure portable computers into the
commercial vehicle market, Cycomm International Inc. (Amex: CYI - news) announced today that it has signed a letter of
intent to acquire Omnidata International Inc., which designs, manufactures and sells hand-held computers and communication
systems primarily to the commercial vehicle industry.
Logan, Utah-based Omnidata has for the past 16 years served the commercial vehicle industry with rugged, hand-held
computers with advanced computing capabilities and a standard keyboard that are used in the long distance trucking and
transportation industries.
Albert I. Hawk, President and CEO of Cycomm stated that ''We are already the leader in the public safety market with
installations in hundreds of police cars in such cities as Philadelphia, Durham, NC, and Sarasota, Florida. The acquisition of
Omnidata represents a strategic move to broaden our market share by entering the commercial vehicle market, a significant
segment of the market for integrated rugged and secure mobile computing and communication. The products are an ideal
complement to our line of mobile computers, which make possible two-way communications of vital computer-based data.''
Hawk said, ''Omnidata will provide Cycomm with a brand new market in the trucking and transportation industries for our
PC Mobile computer. Omnidata's products have an impressive reputation in this industry for providing the highest
performance and quality for the lowest cost with its computers that provide critical information as it is required. Thus, the
combination will afford us immediate and substantial participation in the commercial vehicle market for mobile computing
products. In addition, Omnidata's products have broad applicability in manufacturing, warehousing and medical operations.''
Gilbert Larson, chief executive officer of Omnidata said: ''The synergies between the two product lines and the two markets
are compelling. We can see great opportunities for selling hand-held computers to public safety market users and for selling
secure wireless communications systems into the commercial vehicle market.''
The acquisition is pending completion of due diligence and regulatory approval and is expected to be completed by December
31, 1997. Terms of the agreement were not disclosed.
Mr. Hawk further stated that ''It is our intent to manage this business as a wholly owned subsidiary of Cycomm and to keep
operations in Utah.''
Cycomm International Inc., headquartered in McLean, VA, with subsidiaries in Sebastian, FL, Portland, OR, Montreal,
Quebec and Albuquerque, NM, develops, manufacture and sells a variety of information technology products, including
computers and computing systems, wireless and cellular devices, secure communications products and other
telecommunications products and services.
SOURCE: Cycomm International Inc. |
