Bosch to buy Extreme CCTV
Wow. This just came over the wire. I'll have some more for you on the newswire: Boost for Security Systems division: Bosch plans acquisition of Extreme CCTV Ã¢â‚¬Â¢ Extreme CCTV is a technology leader in active infrared illuminators, demanding environment cameras and license plate capture systems Ã¢â‚¬Â¢ Publicly listed Extreme CCTV Inc. employs approximately 130 associates Ã¢â‚¬Â¢ Bosch is offering 5.00 Canadian dollars per share Stuttgart Ã¢â‚¬â€œ Bosch is planning to acquire all shares of Extreme CCTV Inc., headquartered in Burnaby, Canada. With this acquisition, Bosch intends to boost its Security Systems division and extend its activities in video surveillance. Bosch is offering the companyÃ¢â‚¬â„¢s stockholders 5.00 Canadian dollars per share in cash. The stockholders of Extreme CCTV include private and institutional investors as well as the company management. The expected transaction volume is some 93 million Canadian dollars (approximately 62 million euros). The transaction is subject to approval by the authorities and is expected to close in February 2008. Extreme CCTV is a technologically leading manufacturer and supplier of active infrared illuminators for high performance imaging in dark conditions and when visibility is poor, as well as video surveillance products for use in all kinds of extreme environmental conditions including heat, cold, and darkness. Furthermore, its product range includes systems for license-plate capture. In 2006, the company and its 130 associates worldwide generated sales of some 27 million Canadian dollars (approximately 19 million euros). Extreme CCTV has locations in Burnaby (Canada), Newcastle (U.K.), Church Cookham (U.K.), and Barbados. The company has three well-known brands: Extreme, Forward Vision, and Derwent. Ã¢â‚¬Å“In acquiring Extreme CCTV, we want to extend our leading position in the fast growing video-surveillance market,Ã¢â‚¬Â said Uwe Glock, president of the Bosch Security Systems division. Ã¢â‚¬Å“The companyÃ¢â‚¬â„¢s innovative technologies will expand our product portfolio and strengthen our presence in Canada, the U.S. and the U.K,Ã¢â‚¬Â Glock said. Not a gigantic buy, but substantial, and another sign of the market's continuing consolidation. The big boys will eventually control much more of the market than they do now.