Bosch Plans Acquisition of Extreme CCTV
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 Crookham (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.