Black Diamond Inc To Acquire PIEPS Holding GmbH

Black Diamond Inc announced that it has entered into a definitive agreement to acquire PIEPS Holding GmbH and operating subsidiary, PIEPS GmbH (together PIEPS), a Austrian designer and marketer of avalanche beacons and snow safety products, from the SEIDEL Group, a family-owned group of companies focused on electronics manufacturing. Under the terms of a definitive agreement, Black Diamond will purchase PIEPS for EUR8.0 million or approximately $10.4 million in cash and will also assume approximately EUR2.1 million or $2.7 million in debt. The transaction is expected to close on October 1, 2012.