Board maker Radstone Technology rejects potential buyers ... for now

BILLERICA, Mass., 12 Sept. 2006. Leaders Radstone Embedded Computing in Billerica, Mass., one of the world's leading suppliers of high-performance rugged single-board computers for military and aerospace applications, have rejected three takeover attempts this month alone, yet could be sold to another company in the near future, experts say.

Sep 12th, 2006

By John Keller

BILLERICA, Mass., 12 Sept. 2006. Leaders Radstone Embedded Computing in Billerica, Mass., one of the world's leading suppliers of high-performance rugged single-board computers for military and aerospace applications, have rejected three takeover attempts this month alone, yet could be sold to another company in the near future, experts say.

Eurotech S.p.A. in Udine, Italy, made a hostile bid of 109 million pounds earlier this month, which Radstone leaders rejected, saying Eurotech's offer "undervalues the company."

EUROTECH owns U.S. military embedded computer provider Parvus Corp. in Salt Lake City, which specializes in rugged mobile networking, displays, and embedded computers, as well as Arcom in Overland Park, Kan., which manufactures embedded PC single board computers, industrial PC systems & ruggedized communication devices.

Radstone, which reportedly rejected two previous offers to buy the company earlier this month, has its home headquarters in Towcester, England, supplies high-performance single-board computers for the U.S. Predator unmanned aerial vehicle, as well as for a variety of other U.S. military platforms.

Offers for Radstone are probably not over.

Embedded computer specialist Curtiss-Wright Controls Embedded Computing in Leesburg, Va., a primary competitor to Radstone, could emerge as a possible counter-bidder to Eurotech, Ian Robertson, of London-based broker Altium Capital Limited, was quoted as saying.

Radstone Chairman Rhys Williams, who had announced plans to retire at the company's annual general meeting (AGM), said Sept. 7 that he will stay on as Radstone's chairman until the issue of the company's sale is settled.

"In our preliminary announcement in July 2006 I stated my intention to retire at the AGM," Williams said in a company announcement issued Sept. 7. "Following the hostile offer from Eurotech, your board has requested that I remain as chairman until such time as the matter is concluded."

More in Computers