Digital Barriers acquires Visimetrics

Digital Barriers, a specialist provider of surveillance technologies to the homeland security and defence sectors, on Monday announced the acquisition of Visimetrics and its unit OmniPerception.

Digital Barriers, a specialist provider of surveillance technologies to the homeland security and defence sectors, on Monday announced the acquisition of Visimetrics and its unit OmniPerception.

The AIM-listed company has purchased the entire issued share capital of Visimetrics, including OmniPerception, for an initial cash consideration of £3.3m.

A deferred consideration of a further £4.70m will be paid, dependent upon the successful satisfaction by Visimetrics of certain financial and operational targets in the period to December 31, 2014.

Visimetrics, which was founded in 1996 and based in the UK, develops digital video recording, storage and management systems for video surveillance systems. Its subsidiary, OmniPerception, designs facial recognition video systems and image processing technology.

Zak Doffman, Development Director of Digital Barriers, said: "Visimetrics and OmniPerception bring an impressive range of additional technologies into the group, including advanced facial recognition and identity management solutions, helping us establish a fourth key technology area.

"This is an area of significant interest for Digital Barriers and we see compelling opportunities to take facial recognition solutions to our customers around the world."

The company 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.

Shares soared 1.85% to 165.00p at 8:57 Monday.

RD

Recommended

Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022
These 3 top value stocks offer
Share tips

These 3 top value stocks offer

Professional investor Adam Rackley of Cape Wrath Capital highlights three overlooked value stocks to buy.
29 Sep 2022
Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022

Most Popular

The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022
Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
Why everyone is over-reacting to the mini-Budget
Budget

Why everyone is over-reacting to the mini-Budget

Most analyses of the chancellor’s mini-Budget speech have failed to grasp its purpose and significance, says Max King
29 Sep 2022