Transaction Expected to be Immediately Accretive to Earnings per Share Management to Discuss Acquisition via Conference Call Today at 4:30 p.m . ET
SALT LAKE CITY, Oct. 1, 2012 (GLOBE NEWSWIRE) -- Black Diamond, Inc. (Nasdaq:BDE) (the "Company" or "Black Diamond") has successfully completed the acquisition of PIEPS Holding GmbH and its operating subsidiary, PIEPS GmbH (together "PIEPS"), a leading Austrian designer and marketer of avalanche beacons and snow safety products, from the SEIDEL Group, a family-owned group of companies focused on electronics manufacturing.
Founded in 2006, with roots dating back to 1972, PIEPS is widely recognized as an innovator and technology leader in alpine safety equipment. PIEPS offers a focused range of premium alpine performance products, including avalanche transceivers and probes, shovels, safety equipment, packs, and satellite-based devices for messaging, route tracking, and navigation.Under the terms of the definitive agreement, Black Diamond acquired PIEPS for €8.0 million or approximately $10.3 million in cash and assumed approximately €2.1 million or $2.7 million in debt. Black Diamond has committed up to an additional estimated €2.3 million or approximately $3.0 million of contingent purchase price upon PIEPS' achievement of certain sales targets between April 1, 2012 and March 31, 2015, which may be paid at Black Diamond's discretion in cash, shares of Black Diamond common stock, or a combination of cash and such shares. "PIEPS reinforces our commitment to providing well-engineered products that are rooted in a superior level of personal protection and safety for outdoor athletes," said Peter Metcalf, president and CEO of Black Diamond. "Along with their product quality and functionality, PIEPS' intellectual property and electronic manufacturing capabilities support our growing portfolio of technology-centric products. We believe these factors make PIEPS an ideal acquisition for Black Diamond as we advance our position as one of the most respected and leading active outdoor equipment companies in the world."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV