DIGITAL BARRIERS' PROPOSED ACQUISITION OF BRIMTEK, INC.
Digital Barriers today (Dec 11, 2015) announces that it has conditionally agreed to acquire the entire issued share capital of Brimtek, Inc.
Brimtek, Inc., a provider of state-of-the-art technical surveillance solutions to the US defence, homeland security, federal law enforcement and intelligence communities, will be acquired for a maximum aggregate consideration of up to $45 million (£29.6 million).
Of the total consideration payable under the terms of the Acquisition, $25 million (£16.4 million) is payable in cash upon Completion and the remaining up to $20 million (£13.2 million) is payable in cash (or a mixture of cash and new Ordinary Shares at the discretion of the Company) subject to Brimtek achieving certain performance targets during the period up to 31 December 2017.
Further details of the Aquisition and the Aquisition Agreement can be viewed here