Business
Acquisition of Keeneo SAS
Acquisition of Keeneo SAS.
About this update from Thruvision Group Plc
[{"type":"text","content":"\n \nRNS Number : 4410L Digital Barriers plc 01 August 2011 \n \n\n1 August 2011\nDigital Barriers plc\n \n(\"Digital Barriers\" or the \"Company\")\n \nAcquisition of Keeneo SAS\n \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 Keeneo SAS (\"Keeneo\") (the \"Acquisition\").\n \nKeeneo was founded in 2005 as a spin-out from INRIA, the French institute for computer science and automatic control research, and provides proprietary video analytics software solutions to the security, aviation, mass-transit, energy and industrial sectors from its operational base in Sophia-Antipolis, France. Keeneo operates primarily in Europe but has recently begun to extend its presence into other regions, most notably the Middle East.\n \nKeeneo's solutions enable the real-time detection of human intrusion and other pre-defined activities or incidents within a targeted 3D area or zone. Keeneo also offers a patented \"4D\" solution that can intelligently adapt its surveillance to manage adverse environmental effects, such as changing light or weather conditions.\n \nRationale for the Acquisition\n \nThe board of directors of Digital Barriers (the \"Board\") believes that the market opportunity for Keeneo's video analytics software is potentially significant across the target sectors and geographies in which it operates. Keeneo's solutions, when combined with the assets and technologies acquired through the prior acquisitions of Waterfall Solutions, Essential Viewing and COE, provide Digital Barriers with a strong platform from which to exploit the opportunities in the premium visual surveillance market. It is the Board's view that video analytics capabilities are becoming an increasingly important element of this particular market, given the ever-increasing scale and complexity of surveillance platforms and the data they must handle. Analytics capabilities will allow Digital Barriers' security and defence customers to not only significantly enhance their situational awareness, but also increase efficiency and reduce operating costs.\n \nTerms of the Acquisition\n \nUnder the terms of the Acquisition, Digital Barriers will acquire the entire issued share capital of ...