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Verint Systems Acquires RP Security
SecurityProNews
Staff Writer
2004-09-07
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Acquisition Provides Verint with Additional Capabilities for the Mobile Transportation Security Market.
Verint Systems today announced the acquisition of privately-held, RP Sicherheitssysteme GmbH ("RP Security"), a developer of mobile video security technology for the transportation market. RP Security, headquartered in Flensburg, Germany, was founded in 1999 and has approximately 50 employees.
RP Security's technology has been developed specifically for the mobile transportation security market and includes DSP-based mobile devices, video processing technology and fleet video management software. The acquisition extends the capabilities of Verint's Networked Video Solution to further address the growing need for better security of transportation infrastructure, such as railways, buses and other mass transit systems, as well as emergency vehicles. The acquisition also strengthens Verint's presence in Europe.
"The acquisition of RP Security reinforces our strategy of acquiring companies with complementary technologies to broaden our portfolio of solutions," said Dan Bodner, President and CEO of Verint Systems. "RP Security's technology strengthens our video offering for the mobile transportation market and provides our customers with an effective solution to improve the security of their mobile infrastructure and enhance public safety."
Verint Systems has acquired RP Security for approximately $9 million cash and 90,144 shares of Verint Common stock at closing and an earn-out over three years based on the sales and profitability of mobile video products in the transportation market during that period. The acquisition is expected to be non-dilutive to pro forma EPS in Fiscal 2004.
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