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08/04/2003

AZCAR take majority shareholding in Megahertz

Canadian technology integration company AZCAR has acquired an 80% shareholding of UK-based systems integrator Megahertz Broadcast Systems.
The deal, which was recently announced by Stephen F. Pumple, President and CEO of AZCAR, will provide Megahertz Broadcast Systems with a much stronger financial base, enabling it to exploit its technical expertise and attract larger projects that need substantial capitalisation.
For AZCAR, the acquisition of Megahertz opens many opportunities in Europe, the Middle East and Asia where Megahertz is already highly visible.
“It increases the company’s engineering and technical resources and positions AZCAR to take advantage of many business opportunities including the admittance of 11 new countries into the European Union, reparations in the Middle East and the 2004 Olympics in Athens,” Mr Pumple explained.
The day to day running of Megahertz Broadcast Systems will continue to be handled by its managing director Frances Jarvis and technical director Stephen Burgess. They are now joined on the Megahertz board by the AZCAR president.
“Although Megahertz will retain its name, its brand image will be significantly strengthened by its association with AZCAR. This deal represents a terrific opportunity for Megahertz," Frances Jarvis said.
"It gives us access to additional resources and capital in support of the increasing demand for Megahertz service and products and also brings together two strong management teams, which now have the opportunity to share resources and business leads.”
Megahertz Broadcast Systems has particular skills in mobile and satellite up-link vehicles, while AZCAR has specialised skills in engineering and implementing news production and broadband systems technologies for the centralised delivery of television programming.
“We also gain access to the specialised CAD based middleware and database software tools that AZCAR has developed and refined,” Stephen Burgess added.
Based in Cambridge, Megahertz Broadcast Systems was established in 1977 and acquired by Jarvis and Burgess in 2001 following a management buyout. The company is presently under contract to build several mobile units for the BBC, including a 54’ double expanding television unit.
AZCAR is an independent technology integration company providing the broadcast and communications industries with consulting, engineering, systems design, integration and project management. It is a public company that trades on the Toronto Stock Exchange under the symbol AZZ.
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