Mobotix to Be Acquired by Office Equipment Supplier Konica Minolta
The deal is estimated to be between $177 million to $265 million.
Konica Minolta, based here, said it is purchasing approximately 65% of Mobotix shares from company founder Ralf Hinkel and other shareholders. The deal is estimated between $177 million to $265 million, according to the Nikkei Asian Review.
Founded in 1999, Germany-based Mobotix specializes in megapixel IP cameras, 360-degree technology, video management software (VMS) and video analytics. Konica Minolta has particular interest in the company’s image analysis capability, according to a press release.
Mobotix generated sales of $90.1 million in the year ended September 2015. About 60% of its revenue came from Europe. The camera maker’s products will be marketed globally via Konica Minolta’s sales channels. Among its plans for Mobotix’ wares, Konica Minolta will work to broaden the application of its image analysis technologies to other areas, such as monitoring assisted living facilities. The press release states:
By utilizing the technology of both Mobotix’s decentralized processing IP cameras and VMS with Konica Minolta’s image sensing system, Konica Minolta will drive development of new products such as “Care Support Solutions” for monitoring residents at nursing care homes, or the solutions for monitoring workflow at manufacturing facilities that can help their workflow innovation.
The transaction continues a consolidation trend in the security industry, and entrance to the space by an outside player with deep pockets. For Konica Minolta the acquisition is an attempt to diversify beyond its sluggish office equipment operations, according to Nikkei Asian Review.
The market for office equipment – Konica Minolta’s main business – is maturing both in Japan and abroad. Faced with intense competition, the company’s group operating profit shrank 12% on the year in the April-December period to 41.5 billion yen, according to the report.
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