Date: Wednesday, August 10, 2005 6:14 PM
Subject: Press Release - Acquisition of
Wordsworth Technology.
Continuing their policy of growth through the acquisition of product and service related companies, Solid State Supplies plc has bought single board computer supplier Wordsworth Technology Limited for £1.674 million.
Wordsworth, formed in 1985 and based in Edenbridge, Kent, is a systems integrator providing a single source of supply to a wide range of customers and has established itself as a leading supplier of industry standard computer boards, industrial computer systems and real time software to original equipment manufacturers. Solid State Supplies believe that the experienced team at Wordsworth will be a valuable addition to their plans for further growth.
Gary Marsh, Solid State Supplies MD, said: "We believe it is essential that the Group is capable of providing a broad offering in its target markets of industrial, aerospace, defence and telecommunications. In conjunction with Steatite Limited, the Midlands engineering solutions business, which we bought three years ago, Wordsworth will enhance our ability to offer the 'box and board' element, with the existing core Solid State business providing the chip solution."
The audited accounts of Wordsworth on 31 March 2005, show that the company reported profits before tax of £422,240, and profits after tax of £316,560, on turnover of £3.6 million.
ENDS
Steatite Limited is a group company of Solid State Supplies PLC.
Visit the Wordswoth Technology website