Moog Acquires Videolarm for $45M
Moog Inc. has acquired Decatur, Ga.-based video surveillance manufacturer Videolarm Inc. for $45 million in cash. Videolarm is a supplier of products for surveillance systems including integrated cameras, vandal resistant protective housings and networked solutions. The company had 2008 revenues of $19.5 million.
“Videolarm expands Moog’s capabilities and solutions in the security and surveillance markets,” says Jay Hennig, president of Moog’s Space and Defense segment. “Applications are becoming more demanding in terms of networking, system integration and meeting extreme environmental requirements. Videolarm complements our 2007 QuickSet acquisition with innovative solutions and accessories, bringing more than 30 years of additional security experience to our product portfolio.”
Moog, the designer, manufacturer and integrator of precision control components and systems, predicts the acquisition will add $15 million to its sales for the balance of fiscal year 2009.
As a result of first year purchase accounting adjustments and related financing costs, Moog does not expect a significant impact on previously forecasted fiscal year 2009 earnings per share. The acquisition will be reported as part of the Space and Defense segment.
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