Numerex confirms talks with BT Group

SSN Staff  - 
Saturday, June 1, 2002

ATLANTA-Numerex Corp. announced that it is in discussions with BT Group plc to acquire BT's RedCARE business, which provides an "intelligent signaling" secure network dedicated to the telemetry marketplace.

The BT RedCARE business, based in the U.K., also includes a business selling specialized communication links that connect CCTV camera installations to video monitoring centers.

A preliminary agreement has been signed with BT and negotiations are ongoing, according to a press release issued by officials at Numerex.

Completion of the acquisition is subject to a number of conditions, including, but not limited to the negotiation and execution of a definitive agreement with BT Group, the satisfactory completion of due diligence, approval by both companies' Board of Directors and the raising by Numerex of all necessary financing to complete the acquisition.

Numerex is a technology company comprised of operating subsidiaries. These subsidiaries develop and market a wide range of communications products and services.

BT Group plc is the listed holding company for the BT Group of companies, which includes British Telecommunications plc ("BT"), a wholly-owned subsidiary. In the United Kingdom, the company serves more than 28 million exchange lines.