No official purchase price was provided, but the transaction between Jenoptik and Vysionic’s main shareholder LDC was completed on November 14, 2014. Vysionics develops a number of ITS solutions, including "section control" (average speed enforcement over a defined section of road), automatic number plate recognition, bus lane enforcement, car park management, and congestion charging.
"As one of the leading companies for traffic law enforcement, not only do we gain access to the important UK growth market by acquiring Vysionics, but we also complement our innovative product portfolio; the latest technologies of ANPR and ‘section control’ are important future-oriented solutions to improve traffic safety on roads worldwide," said Michael Mertin, President and CEO, Jenoptik. "These technologies significantly strengthen the position of Jenoptik in global road traffic safety projects."
Kevin Chevis, CEO of Vysionics, also commented on the acquisition.
"Integration within the Jenoptik Group offers enormous potential for our company and our employees. Our product portfolios ideally complement each other. With the global presence, financial strength and excellent reputation of Jenoptik, we are better able to expand internationally. Furthermore, we share with Jenoptik the same understanding of quality and customer satisfaction."
Section control technology from Jenoptik is currently used in Austria, Switzerland and Kuwait, but with the acquisition of Vysionics, the company expects to achieve additional international success.
View the press release.
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