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Quixote Corporation Acquires Peek Traffic Business and Revises Second Quarter Guidance; * Quixote acquires $25 million supplier of intersection control systems, advanced vehicle classification products, and red light enforcement products.

Article Excerpt
Quixote Corporation announced today that it has acquired substantially all of the assets and assumed certain liabilities of the North American operations of Peek Corporation, a worldwide supplier of transportation safety solutions. The $15.4 million purchase price consists of $10.9 million in cash and $4.5 million in Quixote common stock (180,723 shares valued at $24.90 per share). The acquired business, now known as Peek Traffic Corporation, had revenues of approximately $25 million for the twelve months ended November 30, 2003.

Headquartered in Palmetto, Florida, Peek Traffic was a pioneer in traffic systems dating back almost 90 years to the first electric traffic signal installed in North America. It is a major supplier of intersection control systems, advanced vehicle detection and classification products and automated red light enforcement systems. Peek Traffic sells its products predominantly through a network of over 20 distributors.

Leslie J....

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