RTS Robotic Tech

 

TIDMRTS 
 
RNS Number : 0442H 
Robotic Technology Systems PLC 
11 February 2010 
 

Robotic Technology Systems PLC Acquisition of controlling interest in Hatch 
Science LLC 
 
 
The Board of Robotic Technology Systems PLC ("RTS" or "the Group") is pleased to 
announce the acquisition of a controlling interest in Hatch Science LLC ("Hatch 
Science" or "Hatch"). 
 
Hatch Science is a leading developer and manufacturer of scientific instruments 
for the pharmaceutical and medical industries and is located in Fall River which 
is approximately 40 miles south of Boston, Massachusetts. 
 
With a successful history of product development, Hatch provides complementary 
products and skills to RTS Life Science, and simultaneously, strengthens the 
Group's presence in its key US market. 
 
RTS Life Science and Hatch have been co-operating in sales and product 
development for over 12 months. 
 
The unaudited results for Hatch in the year ending 31 December 2009 show 
turnover of $448k and an operating loss of $798k, including costs for a major 
product development project, the revenue for which will only be accounted for on 
completion, expected in 2010.  The closing gross assets of the entity were 
$2,865k. 
It is anticipated that Hatch, as a result of the potential synergies, will make 
a positive contribution to the Group in the 2010 financial year. 
The consideration paid for the 65% share in Hatch consists of an initial 
consideration of $325k payable in cash from the Group's resources, with an earn 
out based on payment of 32.5% of the profits generated from Hatch for each of 
the first three years. 
The remaining shareholding is held by the existing management team, who will 
have an option to sell their 35% holding to the Group at the end of three, four 
and five years based on the greater of $175k or a percentage of the aggregate 
net profits generated from Hatch in the preceding two to three years. 
Chris Brown, Chairman of RTS said: "The acquisition of Hatch is an important 
development for RTS as it increases our presence in our core North American 
market. Hatch has complementary skills and product lines that have been 
beneficial to both parties over the past twelve months, and once Hatch is fully 
integrated, is expected to provide a more efficient operation from which to 
develop our US business". 
 
Enquiries: 
Robotic Technology Systems PLC                      Tel: 0161 777 2000 
Jon Sharrock, Finance Director 
 
Collins Stewart Europe Limited                            Tel: 020 7523 8350 
Stewart Wallace 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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