[August 02, 2011] Digital Barriers to acquire 100% stake in Keeneo Tweet Aug 02, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Digital Barriers plc (DBP) has agreed to acquire 100% stake in Keeneo SAS, a France-based provider of intelligent video surveillance software solutions. The transaction is valued at approximately EUR9.5 million in cash and stock. DBP is a UK-based provider of products and services to the homeland security market. The consideration constitutes an initial payment of EUR2 million, of which EUR0.4 million will be satisfied by issuing 195,460 DBP's shares and the remaining EUR1.6 in cash and assuming Keeneo's debt of EUR1 million. Dependent upon the successful satisfaction by Keeneo of certain financial and operational targets in the period from completion of the acquisition to March 31, 2014, further deferred consideration may be paid by Digital Barriers, in phases, up to a maximum total consideration of GBP6.5 million. This deferred consideration would be satisfied by a combination of cash and by the issue of up to a maximum of GBP2.25 million in new ordinary shares in Digital Barriers. Deal Value (US$ Million) 15.6 Deal Type Acquisition Sub-Category 100% Acquisition Deal Status Announced: 2011-08-01 Deal Participants Target (Company) Keeneo SAS Acquirer (Company) Digital Barriers plc Deal Rationale The acquisition will enhance DBP's existing video surveillance offering. The acquisition will allow DBP's security and defence customers to not only significantly enhance their situational awareness, but also increase efficiency and reduce operating costs. [ Back To TMCnet.com's Homepage ]