Real Time Communications Industry News

TMCNet:  Siemens announces satisfaction of regulatory condition for RuggedCom acquisition

[March 14, 2012]

Siemens announces satisfaction of regulatory condition for RuggedCom acquisition

BURLINGTON, ON, Mar 14, 2012, 2012 (Canada NewsWire via COMTEX) -- Siemens Canada Limited ("Siemens") announced today that it has received a "no-action" letter from the Canadian Competition Bureau in respect of the offer (the "Offer") made on February 8, 2012 by its wholly-owned subsidiary, to acquire all of the outstanding common shares ("Common Shares") of RuggedCom Inc. ("RuggedCom"). With the receipt of the no-action letter, no further regulatory approval is required as a condition to Common Shares being acquired under the Offer.


The Board of Directors of RuggedCom has unanimously recommended that shareholders of RuggedCom accept the Offer and tender their Common Shares. Each Director of RuggedCom has tendered their Common Shares to the Offer in accordance with and subject to the provisions of their respective lock-up agreements.

The Offer is open for acceptance until 8:00 p.m. (Toronto time) on Thursday, March 15, 2012, unless extended or withdrawn. Shareholders of RuggedCom that wish to receive timely payment of the $33.00 cash per Common Share that is payable for Common Shares taken up in the Offer should deposit their Common Shares with the depositary before 8:00 p.m. (Toronto time) on Thursday, March 15, 2012.

Computershare Investor Services Inc. is the depositary for the Offer.

Shareholders can obtain copies of the take-over bid circular and related materials at no charge from the depositary toll-free at 1-800-564-6253 or by email at corporateactions@computershare.com. The information agent for the Offer is Georgeson Shareholder Communications Canada Inc. Inquiries should be directed to the information agent toll-free at 1-866-374-9877 or by email at askus@georgeson.com. Additional copies of these documents may also be obtained on request from the information agent.

The full details of the Offer are contained in the take-over bid circular of Siemens and the directors' circular of the RuggedCom Board of Directors. Copies of the take-over bid circular and the directors' circular are available online at www.ruggedcom.com and www.sedar.com.

RuggedCom shareholders are encouraged to read both documents carefully and in their entirety.

About Siemens in Canada For 100 years the innovative ideas from Siemens have helped make Canada a better place. From the Atlantic to Pacific oceans, more than 4,400 employees in Canada work together to provide answers that last in the fields of industry, energy and healthcare, as well as deliver infrastructure solutions for cities. Since it was federally chartered in August of 1912, Siemens has stood for technical achievements, innovation, quality and reliability. Sales for Siemens in Canada in fiscal 2011 (ended September 30), were $3.0 billion CAD. The company has 61 offices and 13 manufacturing/assembly facilities across Canada.

Further information is available at www.siemens.ca About RuggedCom Inc.

RuggedCom is a leading provider of rugged communications networking solutions designed for mission-critical applications in harsh environments. RuggedCom's technology solutions include Ethernet switches, network routers, wireless devices, serial servers, media converters, software and professional services. RuggedCom's products are designed for use in harsh environments such as those found in electrical power substations and "Smart Grids," intelligent transportation systems, industrial process control and military applications.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2012/14/c4313.html SOURCE: Siemens Canada Limited Ann Adair - VP, Communications and Strategy Tel.: (416) 567-7831 E-mail:ann.adair@siemens.com

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