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

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
It's not just the UK – we're seeing pandemic housing booms across the globe
Property

It's not just the UK – we're seeing pandemic housing booms across the globe

Soaring house prices aren’t just a UK thing, they’re a worldwide phenomenon. And it’s no coincidence – the underlying cause is much the same. John Ste…
18 Jan 2021