Hills acquires Lan 1


August 13th 2012; Diversified Australian Company, Hills Holdings Limited (ASX: HIL) today announced it had reached agreement to buy Lan 1.  Lan 1 is a leading solutions provider of IP Storage, IP Networking, IP Security and IP CCTV and Access Controls. 

Hills Chief Executive Officer, Mr Graham Twartz said “In recent years the businesses in our Electronics & Communications Division have all been experiencing the transition from analogue technology to digital technology.  Access to products and services in support of IP and networking applications is important for the future development of our businesses.”

Mr Twartz noted “This acquisition demonstrates a further step in Hills strategic direction to invest in emerging and growing technologies to complement our market leading position in Electronics & Communications markets.”

Lan 1 is expected to turnover in excess of $30M in financial year 2013 and provides engineering support, training, assistance with design and configuration and implementation of IP products.

Lan 1 is based in Sydney with operations in key states. It is Hills intention to run Lan1 as a stand-alone entitity while leveraging its product range and network expertise to other Electronics &Communications businesses.   

Lan1 CEO Daniel Lee said “We are delighted to be joining the Hills team.  Having Hills support and infrastructure provides us a platform to enable significant growth.  Our technology offerings integrate extremely well into the Hills Electronics & Communications group and we look forward to working closely with them”.

The transaction is subject to a number of pre conditions and is expected to settle in October 2012.

For further information contact:

Graham Twartz
Chief Executive Officer
Hills Holdings Limited
Mobile: 0412 818 271 | graham.twartz@hillsholdings.com.au