Digital Barriers, the specialist provider of advanced surveillance technologies to the security, defence and commercial sectors has confirmed the proposed acquisition of Brimtek, Inc. According to Digital Barriers, the company has conditionally agreed to acquire the entire issued share capital of Brimtek, Inc., a provider of state-of-the-art technical surveillance solutions to the US defence, homeland security, federal law enforcement and intelligence communities, for a maximum aggregate consideration of up to $45 million (£29.6 million).
Of the total consideration payable under the terms of the Acquisition, $25 million (£16.4 million) is payable in cash upon Completion and the remaining up to $20 million (£13.2 million) is payable in cash (or a mixture of cash and new Ordinary Shares at the discretion of the Company) subject to Brimtek achieving certain performance targets during the period up to 31 December 2017.
Digital Barriers has identified Brimtek as an attractive target for the Group, given its breadth of offerings to the US defence, national security and law enforcement communities which present significant sales synergies with Digital Barriers in the US market.
Digital Barriers provides visual intelligence technologies to the global surveillance, security and safety markets. They specialise in secure, wireless solutions that record, analyse and stream real-time, zero-latency video and related intelligence over cellular, satellite, IP networks and cloud services. These readily-deployable solutions are designed for covert, remote and wide-area coverage, as well as vehicle and body-worn deployments. They also provide advanced video content analysis and body scanning technologies to identify safety concerns and threats in real-time. Their solutions have been sold into more than fifty countries, and have been proven on some of the world’s most demanding operational deployments.
