• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

IPC Information Systems to Acquire Orbacom Systems and Form Command & Control Division

Posted on: Monday, 4 October 2004, 06:00 CDT

-Company Will Lead Technology Transfer from Capital Markets to Public Safety and Security-

IPC Information Systems, LLC, announced today it has entered into a definitive purchase agreement to acquire Orbacom Systems, Inc. for up to $18 million in cash, including deferred consideration and earnout commitments. The closing of the transaction is subject to clearance under the New Jersey Industrial Site Recovery Act, which the Company anticipates within 60 days.

Orbacom provides specialized radio consoles and computer aided dispatch software for use in Command & Control communications. The company serves the mission critical communications needs of government agencies and corporations responsible for public safety dispatch, management of natural gas and energy infrastructures, air, freight and rail transportation, government command applications including homeland security, and critical industrial communications. IPC will form a new division, consolidating IPC's existing Command & Control operations with those of Orbacom. The combined entity will serve over 1,400 Command & Control customers at over 2,000 locations worldwide.

"IPC is leading a technology transfer from the private sector financial markets to meet the expanding communication demands of public sector safety, defense and infrastructure security," said Lance Boxer, Chief Executive Officer of IPC. "Traders in the global capital markets are connected by the most advanced communications systems in use today, which are built on the need for split-second coordination among people and markets spanning the globe, and systems that must not go down, even for one minute. IPC is the leading global provider of those communication systems, and with the acquisition of Orbacom and its distribution channel and radio capabilities, we will accelerate our growth in the Command and Control markets."

"We are excited to join IPC in bringing technologically advanced solutions to the global Command & Control market," stated Herb Cohen, Chief Executive Officer of Orbacom. "The presence of IPC radically changes the competitive landscape in this industry. The ultimate beneficiaries will be mission commanders, emergency responders and other providers of vital services."

About IPC

IPC is a leading provider of mission-critical communications systems and network services to the global financial services industry. With more than 30 years of expertise, IPC provides its systems and services to the world's largest financial services firms, as well as to public safety, utility, transportation and government organizations. The Company has more than 100,000 stations deployed worldwide. IPC offers its customers an integrated suite of products and enhanced services that include its advanced IQMX Voice over IP telephony system, voice and integrated network services to approximately 40 countries, and comprehensive business continuity planning. Based in New York, IPC has over 700 employees throughout the Americas, Europe and the Asia Pacific region. For more information visit www.ipc.com.

About Orbacom

Orbacom has been a leader in communications control systems for over 30 years. The company has deployed its technology in over 2,000 dispatch centers worldwide across the public safety, utility, transportation and government sectors. Its installations range from one-person operator to multi-point, wide-area centers. Orbacom offers systems with the leading fault-tolerant and self-healing technologies available. Based in Cinnaminson, NJ, Orbacom has 80 employees. For more information visit www.orbacom.com.

Statements made in this news release that state IPC's or its management's intentions, beliefs, expectations, or predictions for the future constitute "forward looking statements" as defined by federal securities laws, which involve significant risks and uncertainties. Many risks and uncertainties are inherent in the telecommunications equipment industry. Others are more specific to our operations. The occurrence of the events described and the achievement of the expected results depend on many factors, some or all of which are not predictable or within our control. Actual results may differ materially from results discussed in these forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements, are risks associated with substantial indebtedness, leverage and debt service, risks relating to the performance of our business and future operating results, risks of competition in our existing and future markets, loss or retirement of key executives, risks related to the notes and to high yield securities generally, general business and economic conditions, market acceptance issues, including potential technology changes and the risks inherent in new product and service introductions and the entry into new geographic markets, as well as those risk factors described in our filings with the SEC.

(C)2004 IPC Acquisition Corp. All Rights Reserved. IPC, IQMX, and ICMX are trademarks of IPC. All other trademarks are the property of their respective owners.

More News in this Category