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Solid State

  • BY: Andrew Hore |
  • POSTED: 04/04/2010 |

Electronic components supplier Solid State is paying up to £254,000 for Rugged Systems.

Solid State has also confirmed that second half trading was better than the first half’s. Results for the year to March 2010 will be published in July.

Rugged Systems specialises in ruggedised test, measurement, control and computing products.

The initial cash payment is £203,000. The rest will be paid when the completion accounts are finalised and is dependent on the level of net assets at the end of March 2010. Rugged Systems made a profit of £36,000 on revenues of £4.36m in the year to March 2009.

The acquisition is immediately earnings enhancing.

Solid State is looking for further acquisitions.

At 43.5p a share, up 6p following the news of the acquisition, Solid State is valued at £2.68m.

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