The deal, for an undisclosed amount, is said by North Yorkshire-based Brulines to allow the business to integrate Lookout’s services into its own Vianet subsidiary creating a ‘one-stop-shop’ for vending telemetry, contactless payment and vending management software.
Under the terms of the deal, Mark Boland, founder and managing director of Oxford-headquartered Lookout, is to join Vianet in the role of sales and marketing director.
James Dickson, chief executive of Brulines, comments: ‘In addition to Lookout’s excellent vending management application completing our end-to-end solution for the sector, we gain a wealth of knowledge and expertise in the vending industry, which will prove invaluable as we continue to expand our presence and drive growth in the global vending market.’
Brulines’ main service, its Dispense Monitoring division, measures the volume of liquid dispensed each hour against legitimate deliveries in pubs across the UK.
According to a statement Brulines is aiming to become a ‘market leader’ in telemetry and contact payment processing, a strategy started with the acquisition of Vianet in December 2008.
The purchase of Brulines is the first completed by the business since its December 2010 buy of Amscreen M2M in a deal worth up to £3.4 million.
For the year to date 31 March 2011 Brulines recorded a turnover of £24.28 million, and pre-tax profits of £3.02 million.