Black Diamond has entered into a definitive agreement to acquire PIEPS Holding GmbH and its operating subsidiary, PIEPS GmbH, a leading 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. For its FY12, PIEPS' sales were EUR6.0M or approximately $8.2M. Under the terms of a definitive agreement, Black Diamond will purchase PIEPS for EUR8.0M or approximately $10.4M in cash and will also assume approximately EUR2.1M or $2.7M in debt. Black Diamond has committed up to an additional estimated EUR2.3M or approximately $3M of contingent purchase price upon PIEPS' achievement of certain sales targets between the closing of the transaction and March 31, 2015. The transaction is expected to close on Oct. 1, 2012 and is expected to be immediately accretive to Black Diamond EPS.