Mergers and Acquistions News
Categories: Hardware
November 11th 2010, 18:14PM
TKH Group, a Dutch telecoms engineering firm, says it will acquire Optelecom-NKF, a Nasdaq-listed US supplier of video surveillance products.
Haaksbergen-headquartered TKH will purchase all shares in Optelecom for $9.2 million (£5.7 million), or $2.45 (£1.50) per share, in the all cash deal.
The offer represents a premium of 59.1 per cent over Wednesday November 10th's closing market price, 72.7 per cent over Optelecom's average closing share price over the past 30 trading days, TKH said.
Optelecom will be merged into TKH's security division following completion of the transaction, expected in the first quarter of 2011.
The Maryland-based firm, with 120 employees and an annual turnover of 25 million euros, supplies surveillance products like IP cameras, network video recorders and video management analysis to air and sea ports, prisons, public facilities, hospitals and city centres.
Alexander van der Lof, chief executive office of technology TKH, said: "The strategic fit between TKH and Optelecom-NKF is excellent. Optelecom-NKF's portfolio is complementary to TKH's existing portfolio and strengthens TKH’s position in the infra, transport and public transit market."
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