Boost for Security Systems division
BOSCH PLANS ACQUISITION OF EXTREME CCTV
Canadian company specializes in video systems
Extreme CCTV is a technology leader in active infrared illuminators, demanding environment cameras and license plate capture systems
Publicly listed Extreme CCTV Inc. employs approximately 130 associates
Bosch is offering 5.00 Canadian dollars per share
STUTTGART, Germany – 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 company’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.
"In acquiring Extreme CCTV, we want to extend our leading position in the fast growing video-surveillance market," said Uwe Glock, president of the Bosch Security Systems division. "The company’s innovative technologies will expand our product portfolio and strengthen our presence in Canada, the U.S. and the U.K.," Glock said.
Even today, Bosch offers a wide range of systems and services in the area of video surveillance, access control, intruder and fire alarms, and evacuation systems. Bosch products include high-performance video cameras, digital recording and video management systems, wireless intruder alarm systems and video network products. Bosch Security Systems solutions are used in a wide range of industries and applications, such as banks, city centers, industrial complexes, retail stores, train stations and airports. In 2006, Bosch Security Systems and its 10,300 associates at 45 locations worldwide generated sales of approximately 1.3 billion euros.
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