Designer and manufacturer of screening products, ThruVision Systems, has been acquired by Digital Barriers.
London-based Digital Barriers, which provides products and services to the homeland security market, has purchased the assets, intellectual property and customer contracts of ThruVision Systems for £950,000 in cash.
Based in Oxfordshire, ThruVision designs and manufactures screening products which can detect objects under a person’s clothes, such as weapons, explosives or smuggled contraband. ThruVision’s products are used by border security, law enforcement as well as for defence and loss prevention.
For the year to date 31 March 2011 ThruVision reported a turnover of £2.3 million, with an operating loss of £1.12 million.
The board of directors at Digital Barriers says that ThruVision’s technology will be ‘of significant’ interest to security and defence organisations around the world, and is complementary to other products within the company.
AIM-listed Digital Barriers floated on the junior stock market two years ago, raising £19 million in the process. Since its 2010 IPO, Digital Barriers has completed six acquisitions, including its most recent one for Codestuff in March 2012.
Colin Evans, managing director at Digital Barriers comments, ‘We believe that ThruVision’s passive standoff detection is the leading technology of its kind anywhere in the world.
‘Our security and defence customers around the world are now looking for such capabilities as they seek to protect the public from concealed weapons and explosive devices and to address the challenge of smuggling through borders and checkpoints.’