The deal could leave the newly merged business well placed to respond to demands to overhaul the UK’s ageing CCTV infrastructure at a time of heightened security alerts.
Middlesex-based Petards will spend £1.64m to acquire PI Vision’s Universal Video Management System (UVMS), which was launched last year. The system, which features advanced internet protocol and analogue camera recording, distributed architecture, camera mapping and image replay functions, is designed to form the backbone of new or upgraded CCTV systems.
David Myers, managing director of PI Vision, said: ‘We will be able to capitalise on the opportunities for the sale of the new UVMS software at a time when video recording for CCTV security systems is very topical, and there is an increasing trend from earliergeneration tape-based systems to networked digital systems with all their benefits.’
PI Vision — which received the 2004 DTI Smart Award for technology innovation — will integrate its UVMS software closely with Petards’ Advantage command and control software for complex CCTV installations, extending its functionality.
Petards’ systems have been installed by government departments, transport operators, museums, casinos, prisons and banks.
Petards chief executive David Hayes said: ‘This is an exciting opportunity to access the rapidly growing network video recording market, and we believe that the UVMS product has the potential to be a leading industry platform. The acquisition [of PI Vision] will also enable us to cross-sell our Advantage suite of software into new markets, and gives us an established base from which to sell our solutions in North America.’
The Petards group recently won three major UK rail CCTV contracts totalling £5.6m for Virgin Trains, ScotRail and London Eastern Railways.