AIM-listed Digital Barriers has kicked off its 2013 acquisition activity by buying Visimetrics.
On the back of a year which saw Digital Barriers purchase three businesses, the surveillance technology company has snapped up Visimetrics.
In December 2012, Digital Barriers announced its intention to raise £10 million, via an institutional fundraising, to target further acquisitions.
The purchase of Prestwick-based Visimetrics, which also includes its subsidiary OmniPerception, brings to the AIM-company a company which develops and manufactures digital video recording, storage and management systems for video surveillance systems.
Other Digital Barriers acquisitions:
Digital Barriers’ £3.3 million initial consideration will be followed up by a possible deferred amount of £4.7 million based on certain financial and operational targets.
Zak Doffman, development director at Digital Barriers, comments, ‘Visimetrics and OmniPerception bring an impressive range of additional technologies into the [business], including advanced facial recognition and identify management solutions, helping us establish a fourth key technology area.
‘This is an area of significant interest for Digital Barriers and we see compelling opportunities to take facial recognition solutions to our customers around the world.’