Business
Acquisition and Contract Award
Acquisition and Contract Award.
About this update from Thruvision Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 8458C Digital Barriers plc 14 March 2011 \n \n\n14 March 2011\nDigital Barriers plc\n \n(\"Digital Barriers\" or the \"Company\")\n \nAcquisition and Contract Award\n \n \n- Acquisition of EVS Limited -\n- Asia Pacific Contract Award - \n \nDigital Barriers plc (AIM: DGB), the specialist provider of products and services to the homeland security market, is pleased to announce the acquisition of Essential Viewing Systems Limited (\"EVS\") for a maximum consideration of £4.85m in cash (the \"Acquisition\") on a cash-free, debt-free basis.\n \nFounded in 1999 and utilising intellectual property (\"IP\") under an exclusive license from Scotland's University of Strathclyde, EVS is a UK-based provider of surveillance products that are capable of streaming real-time video and related data over cellular and other wireless networks where bandwidth limitations can seriously compromise video quality and equipment control. EVS' products can be rapidly deployed and are especially well suited to covert surveillance, specialist areas of defence and law enforcement, public safety including transportation security, and deployment within remote or hostile environments.\n \nEVS' products, its end markets and the high quality nature of its solutions complement Digital Barriers' existing technology portfolio and stated growth strategy, as does EVS' current network of partners, distributors and integrators.\n \nRationale for the Acquisition\n \nThe board of Digital Barriers (the \"Board\") aims to develop a leading mid-market homeland security business by working with clients to advise on, and then to design and deploy advanced solutions that enhance thephysical and electronic security and resilience of high-profile, high-value potential targets. These targets may include ports, airports and public transport networks; secure government facilities; border crossings; critical national infrastructure and computer systems and networks.\n \nThe Board believes that EVS' high-quality products and technology will enable the Company to make further progress in delivering on its strategy. EVS' products will further differentiate and enhance the range of solutions that Digital Barriers is able to provide to its customers. EVS' technology, by enabling the delive...