Digital Barriers to Acquire Brimtek Inc.
Digital Barriers plc announced that it has entered into an agreement acquire Ashburn, Virginia-based Brimtek Inc., a provider of surveillance solutions to military and law enforcement customers. Brimtek's products and solutions include surveillance, reconnaissance, data collection and processing, and secure communications as well as its own proprietary set of surveillance products which are packaged with third party hardware and software to deliver an integrated surveillance system. The company is projected to generate 2015 revenues of around $40M with EBITDA of around $3.5M. The purchase consideration is comprised of $25M payable at closing and $20M in earnout based on achieving certain performance targets through 2017.
Digital Barriers cites the FCC's 2015 spectrum reallocation that raised $41B as a driver for material US investment in surveillance technology and infrastructure over the next few years, spending which the company belives will continue to greatly benefit Brimtek. Brimtek is expected to be the platform for growth in the US market and will become the US Government Services division of Digital Barriers.
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