AIM-listed homeland security services provider Digital Barriers has bought Codestuff, the Edinburgh-based IP video solutions developer for the security, infrastructure, transportation and defence industries.
Codestuff operates primarily in the UK and provides video management system (VMS) software and network video recorder (NVR) servers, in addition to system design and development services that build on its extensive video management platform. It is an existing supplier of VMS technology to Digital Barriers.
"The board of directors of Digital Barriers believes that Codestuff brings significant video management IP and system development tools and will enhance the company's ability to offer a leading-edge capability in the design of front-end systems for security technology," the statement said.
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
Digitial Barriers will buy the entire issued share capital of Codestuff for an initial consideration of £750,000, payable on completion. Additional payments of up to the same amount are demand on financial and operational target between completion and March 31st 2014.
"This acquisition will allow Digital Barriers to enhance the ways in which our customers use, interact with and respond to the leading-edge technology we already deploy in video surveillance and unattended ground monitoring," said Digital Barriers' Managing Director Colin Evans.
BC
