Digital Barriers Plc (DGB.L), a specialist provider of advanced surveillance technologies, on Monday announced the acquisition of Visimetrics (UK) Limited, including its unit OmniPerception Limited.
Under the deal terms, Digital Barriers has acquired the entire share capital of Visimetrics, including OmniPerception, for an initial cash consideration of 3.30 million pounds, paid to the vendors of Visimetrics upon completion of the acquisition.
Dependent upon the successful satisfaction by Visimetrics of certain financial and operational targets in the period to December 31, 2014, deferred consideration of a further 4.70 million pounds may be paid by Digital Barriers.
Prestwick, UK-based Visimetrics develops and manufactures high-performance digital video recording, storage and management systems for video surveillance systems. Its unit OmniPerception – with whom Visimetrics merged in April 2012 – develops facial recognition video systems and advanced image processing systems.
Digital Barriers said its Board intends to develop biometrics and identity management as a fourth, core strategic technology area, adding to the TVI advanced video surveillance, ThruVision standoff passive screening and RDC unattended ground sensor technologies already within the Group, alongside a wider range of enabling technologies and capabilities.
To receive FREE breaking news email alerts for Digital Barriers and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com