SBS Technologies Buys Remaining Interest In or Industrial Computers, GmbH

SBS Technologies Inc. announced that it has entered into a modification to option agreements entered into on July 1, 1998 that accelerates SBS' purchase of the remaining interest in or Industrial Computers GmbH ("or") and ortec Electronic Assembly GmbH ("ortec") from the originally planned date of Feb. 28, 1999 to Dec. 31, 1998.

On July 1, 1998, SBS acquired a 50.1% interest in or (pronounced as letters O.R.). As part of this acquisition, SBS acquired 50.2% of the shares of ortec, a related company. SBS also acquired 100% of the shares of or Computers, Inc., based in Fairfax, VA, which is the U.S. marketing and support organization for the or product line. At the same time, SBS and the shareholders of both or and ortec entered into exclusive option agreements under which SBS was granted the right to acquire the remaining shares of both companies on February 28, 1999. These are the option agreements that have been amended and exercised. The purchase price for the majority interest in the two companies based in Germany and 100% of or Computers, Inc. was DM 17.5 million, approximately $9.7 million, paid in cash and SBS Common Stock at closing on July 1, 1998. The purchase price for the remaining interest in the or companies is approximately DM 17.2 million, approximately $10 million.

Based in Augsburg, Germany, or, renamed SBS or Industrial Computers GmbH, designs, manufactures and markets Intel-based CPU boards available in the VME, CompactPCI and PCCompact form factors. They also make VME CPU boards based on the Motorola 680X0 series processors and a series of computer input/output boards. ortec,which has been renamed SBS ortec Electronic Assembly GmbH, manufactures or's commercial products and electronic products for other customers.