to acquire baxall australia

Sydney - Thursday - June 29: (RWE Aust Business News) -
QRSciences (ASX:QRS) has executed a Letter of Intent to acquire the
business and key assets of Baxall Australia Pty Ltd from Baxall UK.
Baxall was established in Port Melbourne in March 2005 as a
direct seller and distributor of surveillance and monitoring equipment
including closed circuit television security cameras, digital video
recorders and related components.
The company employs 15 people across Australia with warehouse and
sales facilities in Melbourne, Sydney and Brisbane.
The business is expected to be profitable and to earn in
excess of $10 million in revenue in the coming financial year.
QRSciences said the acquisition provides it with an established
sales team and access to the growing $150 million per year Australian
CCTV distribution market, one of the fastest growing markets in the
Homeland Security space.
Baxall is underpinned by key supply contracts with some of the
world's leading CCTV manufacturers and a long-term partnering and
distribution agreement with Baxall UK.
In Australia, Baxall's business extends across the government
facility, banking, retail shopping, commercial office building,
hospitality and retail service station market segments and includes a
number of major Australian companies as clients.