AIM-listed homeland security services provider Digital Barriers has acquired the assets, intellectual property and customer contracts of ThruVision Systems.
The purchase was made for £0.95m in cash, to be paid once the acquistion is complete.
Digital Barriers believes that ThruVision's technology, namely screening products that can detect objects under a person's clothes, will be of "significant interest" to security and defence organisations around the world and is complementary to other products within the group.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
ThruVision's latest unaudited accounts for the financial year ended March 31st 2011 reported turnover of £2.30m with an operating loss of £1.12m.
Colin Evans, Managing Director of Digital Barriers said: "We believe that ThruVision's passive standoff detection is the leading technology of its kind anywhere in the world. Our security and defence customers around the world are now looking for such capabilities as they seek to protect the public from concealed weapons and explosive devices and to address the challenge of smuggling through borders and checkpoints".
NR
