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ALT - Allied Technologies Limited - Strategic investment in Altech Allied Technologies Limited Member of the Altron Group Incorporated in the Republic of South Africa Registration number: 1946/020415/06) Share code: ALT ISIN number: ZAE000015251 Altech acquires SetOne GmbH JSE listed Allied Technologies Limited (Altech) today announced the acquisition of SetOne GmbH ("SetOne"), a German-based pioneer of innovative DVB-based products and solutions in the German-speaking Europe or DACH region. The acquisition follows the completion of a satisfactory due diligence of SetOne by Altech and approval by the board of Altech. SetOne was incorporated in 2005 and has since been positioned as one of the leading Original Equipment Manufacturer (OEM) companies in central Europe. Its strength as a preferred supplier is evidenced by its recent breakthrough into Spain, Italy and other neighbouring countries in Europe. The company specialises in the domain of digital video broadcasting ("DVB") STB receivers. It has expertise and key skills in the supply chain design phase and product management of these products. SetOne has built strategic alliances with major key players in the value chain of its products and services offering throughout Asia and Europe, which include license agreements with leading companies such as Sisvel, MPEG LA and Rovi. SetOne is especially strong in the management of a range of outsource manufacturing partners for the DVB-T/T2 products intended for the European retail free-to-air (FTA) markets, both satellite and terrestrial broadcast. With these partnerships, the ability to innovate has become an integral part of the company`s strategy and this is particularly evidenced by the very strong aesthetic design philosophy in the SetOne products. The purchase of SetOne unlocks significant synergies with other Altech operations, in particular Altech Multimedia, one of the world`s leading providers of products, professional services and competitive software solutions to the digital Broadcast, Broadband and Telecommunications Industries. The acquisition will enhance Altech Multimedia`s reach into international markets and further entrench its relationships with international partners regarding product development and management in these markets as well as leveraging established distribution channels and exploiting and cross-selling other business opportunities associated with its Global Decoder Logistics ("GDL") services. "This acquisition enhances our ability to diversify Altech Multimedia`s income streams by growing its international business footprint and reducing its reliance on locally generated business and is in line with the Altech Group`s strategy to increase non-SA revenue and profits," said Craig Venter, Altech CEO. "SetOne has established a significant track record in the STB repair and servicing business and is a preferred supplier in the central European region in terms of its OEM capabilities. The company has produced profitable results since its inception and with this acquisition we are well positioned to further entrench our leadership in the Telecommunications, Multi-media and Information Technology sector," said Venter. "This acquisition complements Altech Multimedia`s broadband and broadcast product offerings to address convergence within the multimedia market and strengthens our service offerings," said Peter Balchin, CEO of Altech Multimedia. According to Bartolomeo Caputo, CEO of SetOne, the transaction brings together a range of synergies between the two companies that will be of enormous benefit to the European market. "Since the founding of our company in 2005, we have strived to provide creative and innovative products and reliable service to all our customers and business partners. Now with Altech Multimedia we look forward to taking our business to the next level," he said. To preserve current efficiencies and standards, Altech will retain existing SetOne management and staff whilst it provides supporting administration services and strategic input to the company. More about the Transaction: The Transaction is inclusive of all the IP owned and already developed by SetOne. The agreements governing the transaction include limited warranties and terms and conditions that are customary for transactions of this nature. The effective date of the Transaction will be the first day of the month following the month in which the last conditions precedent in terms of the agreements are fulfilled. - ENDS - Date: 09/09/2011 07:30:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. 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