M&A
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Video Surveillance Market Gets More Concentrated – But Not Mainly Through Acquisition
The year 2013 was a pivotal one for the video surveillance industry, because it was when predictions of market concentration started to become a reality. It was also when the estimated market share of the top 15 video surveillance equipment suppliers jumped 10 percentage points over the previous year’s share. In short, 2013 was when the video surveillance market finally started to mature. But that is not the whole story. Supply was —and is— becoming more concentrated, but it was not primarily the result of the many acquisitions the industry has experienced in recent years.
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High Growth Of Surveillance Market Cannot Sustain All Manufacturers
Despite high growth in the video surveillance market, Memoori’s Jim McHale says that it is simply not enough to sustain all of the industry’s camera manufacturers. World demand for video surveillance is strong but it is skewed by high demand in China and Asia, where local products dominate. Demand in developed markets is running at […]
Vicon And IQinVISION Announce Merger Agreement
Vicon Industries, Inc. (VII: NYSE-MKT) (“Vicon”), and IQinVision, Inc. (“IQinVision”), a privately held California corporation, announced today that they have entered into a definitive merger agreement that is expected to create a global provider of integrated solutions to the video security market. Vicon is a designer and producer of video security and surveillance systems. IQinVision […]
French Perimeter Solutions Provider Sorhea Acquires Protech
Perimeter security solutions manufacturer Sorhea has acquired Reno, Nev.-based Protech, which specializes in high-security outdoor intrusion sensors, expanding the global reach of the French company, which does business in Europe, the Middle East and North Africa. “The merger with Protech further increases Sorhea’s market share in the USA, Canada and the Americas,” said Eric Thord, president […]
Carlyle To Buy Tyco South Korea Security Unit For $1.93 Billion
March 3 (Bloomberg) — Carlyle Group LP agreed to buy Tyco International Ltd.’s fire and security business in South Korea for $1.93 billion, the country’s largest private-equity buyout deal in U.S. dollar value in more than five years. Tyco is selling Tyco Fire & Security Services Korea Co. and units that form the ADT Korea security business, the company said today. Switzerland-based Tyco said net cash proceeds are expected to be $1.85 billion, and the board added $1.75 billion to its stock buyback authority, for a total of $2 billion. “ADT Korea is a highly stable and profitable business with attractive market positioning, strong brand power and excellent cash flow profile,” Sanghyun Lee, managing director on the Asia buyout team for Washington-based Carlyle, said in a statement. Lee said South Korea’s security industry is “under- penetrated.” Carlyle’s purchase follows investments of more than $920 million of equity in 17 transactions in South Korea as of Dec. 31, 2013 and is also the largest private-equity buyout in the country since 2008, according to the company. The firm’s current and former investments in Korea include KorAm Bank, Hyundai HCN, EO Technics, Tapex and Yakjin Trading. Equity for the transaction will come from Carlyle Asia Partners IV and Carlyle Partners VI, Carlyle said. Carlyle Group has committed debt financing from Korea Exchange Bank, Kookmin Bank, Industrial Bank of Korea, Korea Investment & Securities and UBS AG. Stock Reaction Carlyle fell 2.2 percent to $35.47 at 11:38 a.m. in New York as major […]
Source www.swissinfo.ch
Memoori Forecasts M&A Activity Between Now And 2017
http://www.asmag.com/project/BuyersGuide-ControlPanel/index.htm Print │ Click Frequency: 84 >> Back to Lists Source: Memoori Business Intelligence | Date: 11/22/2013 Related tags: Memoori , physical security Memoori’s new report “The Physical Security Business in 2013” shows that M&A activity in the Security Industry has grown by a compound annual rate of 7% over the last 14 years but during this time it has peaked and declined 4 times culminating with its value decreasing by 48% during the last 2 years. External forces have influenced this cyclical pattern but in the last 2 years internal consolidation matters have had more impact. With a drop of 48%, the value of merger and acquisition deals in 2013 was approximately $5.0 billion. 34 deals were identified in 2013 compared with 56 in 2012. The number of deals and total value of acquisitions has fallen, the average value of a deal has actually increased from $120m in 2011 to $147 million in 2013. There are 3 main reasons, namely the industry underwent a major restructuring during the period 2009 to 2011 and in the last 2 years has paused to consolidate that process, the lack of confidence and/or interest by the major conglomerates to commit more investment to the industry and finally the lack of buyers from outside the business, particularly Defense and IT. The positive news is that acquisition activity in the middle market, mainly populated by specialist security companies has significantly increased. 2013 has been a good year for acquisitions, irrespective of the fact that […]
Source www.asmag.com
Analysts Applaud Synaptics’ Acquisition Of Biometric Fingerprint Firm
By Teresa Rivas Synaptics ( SYNA ) was up 6.5% at the close, as investors cheered the company’s acquisition of privately held Validity Sensors , a California-based developer of biometric fingerprint authentication systems. According to the deal, Synapics will pay about $92.5 million in stock and cash for the firm, plus potential performance payments over a multi-year period that could bring the cost up to $255 million. Needham & Co. analyst Rajvindra Gill was upbeat about the acquisition in a note out today, reiterating a Buy rating and $54 price target. “We believe this acquisition is crucial for several reasons: 1) it places SYNA at the forefront of a leading-edge technology in the handset market; i.e., fingerprint sensors; 2) it effectively doubles the addressable market as SYNA can sell an additional sensor per unit; 3) it further solidifies our thesis that SYNA has the leading and the broadest technology platform in the capacitive touch market; and 4) it expands SYNA’s entry into mobile payments, cloud-based services and enterprise mobile device security.” Gill noted that Validity Systems’ high-frequency RF imaging technology is similar to that used in Apple’s ( AAPL ) new iPhone 5s, and that there is increasing interest from handset OEMs for this technology. Pacific Crest’s John Vinh was optimistic as well. He made a similar point as he reiterated his Outperform rating and $58 price target in a note out today: The deal “provides an opportunity for Synaptics to expand its content opportunity with key smartphone, tablet […]
Source blogs.barrons.com