4/13/2004 - Mercury Computer Systems, Inc. (NASDAQ: MRCY) announced it has signed an agreement to purchase the TGS Group for approximately $18.5 million, consisting of $6.0 million in Mercury common stock and the remainder in cash, subject to closing adjustments. TGS is a leading supplier of three-dimensional (3-D) image processing and visualization software to diverse end markets including life sciences (medical imaging and biotechnology), geosciences (earth sciences including oil and gas exploration), and simulation (commercial and defense). The company is headquartered in Bordeaux, France and has operations in Berlin, Germany and San Diego, California.
"This acquisition will enable Mercury to take early leadership in high-growth 3-D imaging markets, particularly in the life sciences arena," said Jay Bertelli, president and chief executive officer, Mercury Computer Systems, Inc. "Together, Mercury and TGS solutions will enable increased image understanding by employing innovative visualization technology, providing end-users with better information from which to make decisions. For our customers, the integration of Mercury and TGS technology will help to meet their critical time-to-market challenges by shortening product development cycles."
"We are pleased to join Mercury, an organization that mirrors TGS in its deep commitment to its associates and its customers," said Jean Bernard Cazeaux, chief executive officer, the TGS Group. "We will become part of a company with a long history of innovation, industry leadership, with a strong customer base and excellent financial stability. Our clients will clearly benefit from the world-class technology for which Mercury is widely recognized."
Mercury expects the transaction, which is subject to certain closing conditions, to be completed in the fourth quarter of fiscal 2004.
Mercury management will host a conference call to review Q3FY04 results, and the TGS acquisition, on April 15 at 11:00 am ET. Instructions on how to participate in the conference call and a Q&A on the TGS acquisition are available on Mercury’s website at www.mc.com/investor.
About Mercury Computer Systems, Inc.
Mercury Computer Systems, Inc. (NASDAQ: MRCY) is the leading supplier of high-performance embedded, real-time digital signal and image processing computer systems. Mercury’s products play a critical role in a wide range of applications, transforming sensor data to information for analysis and interpretation. In military reconnaissance and surveillance platforms the company’s systems process real-time radar, sonar, and signals intelligence data. Mercury’s systems are also used in state-of-the-art medical diagnostic imaging devices including MRI, PET, and digital X-ray, and in semiconductor imaging applications including photomask generation and wafer inspection.
Based in Chelmsford, Massachusetts, Mercury serves customers in North America, Europe and Asia through its direct sales force and a network of subsidiaries and distributors. Visit Mercury on the web: www.mc.com.
About TGS Group
TGS is a leading supplier of advanced 3-D visualization software platforms. TGS is committed to providing its customers with comprehensive, cost-effective 3-D visualization solutions. From PC to virtual-reality systems, TGS products are used in various industries, including oil and gas, life sciences, defense, and research markets. The company also offers a variety of consulting and development services to assist its clients in implementing custom visualization products and strategies.
TGS provides 3-D capabilities to commercial, government, and academic organizations worldwide. TGS’s commitment is to bring a continuous willpower of innovation and quality for advanced 3-D visualization. TGS is headquartered in Bordeaux, France, with offices in San Diego, California and the R&D center for life sciences in Berlin, Germany. For more information, visit www.tgs.com.
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