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."
PIEPS' CEO Michael Schober commented: "We believe Black Diamond provides PIEPS the important resources to expand our market and technology leadership position in avalanche transceivers. This includes their operational infrastructure tailored to highly engineered products and global distribution platform. We also expect our technical experience developing and manufacturing electronic devices to present unique synergies to Black Diamond's existing and planned electronic products. We believe Black Diamond allows us to better serve the market with premium alpine performance products and we are enthusiastic to join forces as one company."Conference Call and Webcast Black Diamond will hold a conference call today, October 1, 2012 at 4:30 p.m. Eastern time to discuss the acquisition of PIEPS. The Company's President and CEO Peter Metcalf and CFO Robert Peay will host the conference call, followed by a question and answer period.
|Date: Monday, October 1, 2012|
|Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain time)|
|Dial-In Number: 1-877-941-1427|
|Conference ID#: 4566398|
|Toll-free replay number: 1-877-870-5176|
|International replay number: 1-858-384-5517|
|Replay pin number: 4566398|
CONTACT: Company Contact: Warren B. Kanders Executive Chairman Tel 203-428-2000 email@example.com or Peter Metcalf Chief Executive Officer Tel 801-278-5552 firstname.lastname@example.org Investor Relations: Liolios Group, Inc. Scott Liolios or Cody Slach Tel 949-574-3860 BDE@liolios.com