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General | April 03, 2018

Magal acquires control of ESC BAZ

Magal Security Systems has closed the acquisition of control of ESC BAZ Ltd. following receipt of approval by the Israeli anti-trust authority.
BAZ is an Israeli-based company focused on the development and manufacturing of military-grade smart Security Video Observation and Surveillance systems. It is anticipated that BAZ's operation coupled with the expected synergies will positively contribute to Magal's revenues and will be accretive to earnings.

The BAZ product portfolio includes a range of modular and customisable medium and long range surveillance systems for distances from 500 metres up to 25 km.

"Accomplishing the conditions required for closing and the materialization of the BAZ acquisition serve our vision to lead the perimeter security market by offering a one stop shop for all cutting edge perimeter intrusion detection systems (PIDS) Security Solutions. The BAZ acquisition will enable us to add smart thermal cameras with embedded video analytics to our product portfolio, strengthening and broadening our state of the art video management systems and video analytics offerings. We look forward to realizing the strong potential synergies between our companies," says Saar Koursh, CEO of Magal, in a press release.

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July 18 2018 5:55 pm V10.0.0-2