Ad
Ad
Ad
Ad
Ad
Ad
© mikael damkier dreamstime.com Business | November 17, 2014

Jenoptik acquires Vysionics

Jenoptik has bought 92 percent of the shares in Vysionics, a UK/based supplier of road safety technology systems. The acquisition is a part of Jenoptik#s strategy to invest specifically in global growth markets.
The Jenoptik Group has acquired 92 percent of UK company Vysionics Ltd. The remaining shares continue to be held by the organization‚Äôs management team. The transaction between Jenoptik and Vysionic‚Äôs main shareholder LDC was completed on November 14, 2014. Both parties agreed to keep the purchase price confidential. The UK company, which is based in Frimley, Surrey, southwest of London, currently has a workforce of 55 employees and is aiming for a revenue of around EUR 20 million for 2014. Vysionics is a supplier of ‚Äúsection control‚ÄĚ technology (average speed enforcement over a defined section of road), another core competence of the company is ANPR (Automatic Number Plate Recognition. According to Jenoptik¬īs President & CEO Michael Mertin: ‚ÄúVysionics is an important and profitable company in the field of road traffic safety technology in the UK. This acquisition outside the Euro-zone is an important step in our growth process and in our medium- and long-term planning. As one of the leading companies for traffic law enforcement, not only do we gain access to the important UK growth market by acquiring Vysionics, but we also complement our innovative product portfolio; the latest technologies of ANPR and ‚Äėsection control‚Äô are important future-oriented solutions to improve traffic safety on roads worldwide. These technologies significantly strengthen the position of Jenoptik in global road traffic safety projects.‚ÄĚ Kevin Chevis, CEO of Vysionics states: ‚ÄúIntegration within the Jenoptik Group offers enormous potential for our company and our employees. Our product portfolios ideally complement each other. With the global presence, financial strength and excellent reputation of Jenoptik, we are better able to expand internationally. Furthermore, we share with Jenoptik the same understanding of quality and customer satisfaction.‚ÄĚ
Ad
Ad
Load more news
February 22 2019 2:26 pm V12.2.6-2