SYS Technologies acquires Logic Innovations

Published 10 November 2005

San Diego, California-based SYS Technologies (AMEX: SYS), a provider of real-time information technology solutions to industry and to agencies of the U.S. government, has acquired all of the outstanding stock of privately held Logic Innovations, also of San Diego. The acquisition was for approximately $4 million in cash and SYS Technologies stock. Logic provides innovative broadcast solutions allowing for efficient delivery of digital audio, video, and data to the broadcasting, satellite, and communications industries. Logic’s revenues for the nine months ending 30 September 2005 were approximately $2.4 million with a current annual run rate of approximately $3 to $4 million. The transaction is anticipated to be accretive to earnings.

SYS has been providing real-time safety and security solutions for DHS for a while now, and also to state and local government agencies. The company offers asset management capabilities, including sensor networking products. The company’s sensor networking products allowing for the monitoring of critical asset/process at anytime from anywhere, delivering real-time graphs, trends, alarms, and analysis. The acquisition of Logic would allow the transmission of that information far and wide - and fast - something which is of growing importance as the United States is trying to bolster the security of its critical infrastructure. Much of that infrastructure is remotely controlled, and the ability reliably and continuously to track the health and safety of the system, and do so in real time, is essential.

-read more at SYS Web site; and Logic Web site