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National Technical Systems Release date: June 9, 2008
Calabasas, CA - June 9, 2008 -National Technical Systems, Inc. (NASDAQ: NTSC) (NTS), a leading provider of engineering services, announced today that it has completed its acquisition of Elliott Laboratories, Inc., a leading San Francisco Bay Area Electromagnetic Compatibility (EMC), Product Safety and Wireless regulatory testing laboratory with two full-service facilities. The terms of the transaction were not disclosed.
The addition of Elliott to the NTS organization creates one of the largest independent providers of EMC design, test and evaluation services in North America. NTS now boasts eight EMC locations coast-to-coast. Additionally, NTS provides EMC services from its laboratory in Munich, Germany.
Elliott has an extensive list of premier customers in the high technology sector. The market has continued to grow in this area over recent years and combining NTS with Elliott leads to significant potential growth for both organizations.
"Elliott Laboratories is a natural fit for NTS," stated William McGinnis, President and CEO of NTS. "This is a very strategic move for NTS as it allows us to service our customers locally and gives us access to a significant market. We are now positioned to offer all of our additional services locally to the Bay area. This acquisition further strengthens and expands our existing Engineering and Evaluation capabilities, in line with our growth strategy to enhance local services and increase our domestic capacity."
"NTS is thrilled to welcome Elliott Laboratories to the organization," commented Executive Vice President of Corporate Development, Doug Briskie. "Since 2001, we have enjoyed a complementary strategic partnership with Elliott and look forward to providing the same teamwork and high level of customer service as one organization. This is a major accomplishment in our long term EMC services business plan where through a combination of organic growth and acquisitions we have already demonstrated over 20% compound annual growth rate (CAGR) in revenues over the past 10 years. With the addition of Elliott's previous 12 months revenue performance, the 10 year CAGR would have been 25%. NTS has plans to continue its growth in EMC coupled with expansion of adjacent services such as Wireless device testing and our other core capabilities in testing and engineering services."
Founded in 1979, Elliott Laboratories operates two full-service compliance testing facilities in the San Francisco Bay Area. In the company's Sunnyvale, CA location in the heart of Silicon Valley, a full range of EMC, Product Safety and Wireless testing services are offered within a 16,500-square foot test lab adjacent to a two-acre Open Area Test Site (OATS) complex. The company's 26,500-square foot test laboratory in Fremont, CA, custom built in 2003, boasts state-of-the-art 10-meter and 5-meter anechoic chambers and a full suite of EMC immunity labs. These facilities represent the model for today's modern compliance laboratories, equipped with every amenity a manufacturer might need to achieve a wide range of compliance testing objectives. "We are very excited to be a part of the NTS family," said Eddie Pavlu, President and CEO of Elliott Laboratories. "With our state-of-the-art test facilities, our highly experienced compliance engineering staff and the resources that will be made available to us through this merger, we will truly be able to expand upon our commitment to provide the highest quality testing and engineering services to our clients. As part of the NTS family we will also be able to offer a wide range of complementary engineering services which will save our clients the time, money and effort associated with distributing their compliance engineering requirements across several different companies. I truly believe that this is a win for NTS, a win for Elliott and a win for all of our clients."
About NTS
National Technical Systems, Inc. is a leading provider of engineering services to the defense, aerospace, telecommunications, automotive and high technology markets. Through a world-wide network of resources, NTS provides full product life-cycle support, offering world class design engineering, compliance, testing, certification, quality registration and program management.
For additional information about NTS, visit our website at www.ntscorp.com or call 800-270-2516.
Contact: Derek Coppinger Director of Corporate Development National Technical Systems Tel: 800.270.2516 Fax: 978.263.5734 E-mail: dcoppinger@ntscorp.com URL: www.ntscorp.com
Agency: Vivian Seal PR Specialist The Rankin Group, Ltd. Tel: 714.832.4100 Fax: 714.832.3211 E-mail: vivian@rankin-group.com URL: www.rankin-group.com
Company Information:
Name: National Technical Systems
Address: 24007 Ventura Blvd.
City: Calabasas
State: CA
ZIP: 91302
Country: USA
Phone: 818-591-0776
FAX: 818-591-0899
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