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Terms of the transaction include $23.5 million in cash and approximately $10.7 million in convertible notes, for a total consideration of approximately $34.2 million, including certain adjustments.
The company believes the acquisition will be immediately accretive to earnings, net of one-time expenses related to the acquisition.
Augmentix provides product solutions, using ruggedization technologies that directly address these environmental challenges. Augmentix said its rugged server solutions are sold directly to U.S. government agencies, and the company's rugged notebooks are developed with and distributed exclusively through a leading, U.S.-based, PC original equipment manufacturer (OEM).
"The new combined portfolio further positions Entorian into high-growth markets, where our core expertise is a key differentiator. Our manufacturing strength, proven IP, subsystems and end-product offerings serve environmentally demanding, size-limited applications where reliability is key," said Wayne Lieberman, CEO of Entorian Technologies. "Additionally, the Augmentix acquisition brings new revenue opportunities, including an established revenue base through a significant OEM, and an impressive customer list that includes most branches of the U.S. Armed Forces, and top system integrators including Raytheon Company," he continued.
"We are excited to become a part of the Entorian team. Our rugged computing solutions for mission-critical applications set new standards in performance, reliability and seamless integration into our customers' demanding environments. Along with Entorian, we plan to continue to strive to maximize customer value by delivering advanced, world-class solutions for vertical markets," said Stephan Godevais, president and CEO of Augmentix.
Entorian Technologies' management will host a conference call with investors tomorrow, July 15, at 3:30 p.m. Central time (4:30 p.m. Eastern time) to discuss the acquisition. Investors and other interested parties may access the call by dialing 888-811-5438 in the U.S. (913-312-0380 outside of the U.S.), with the confirmation code 4178679, at least 10 minutes prior to the start of the call.
In addition, an audio web cast will be available through Entorian's web site at http://www.entorian.com. A replay will be available for 48 hours following the call at 888-203-1112 in the U.S. (719-457-0820 outside of the U.S.), confirmation code 4178679.
Augmentix provides military, enterprise and government customers with computing solutions for rugged environments.
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