Manufacturers Photo-Scan plc and Siemens AG have agreed takeover proposals.
Photo-Scan will become part of Siemens Building Technologies Group (SBT) in the UK. Completion is expected towards the end of the year.
Photo-Scan provides CCTV and access control products to a range of retailers, property companies, local authorities, transport companies, manufacturers and financial services companies. SBT develops and manufactures products and provides systems engineering, maintenance and operational services for building security, building automation and fire safety sectors.
What they say
Peter Hawksworth, Chief Executive of Photo-Scan plc said: "This is an excellent opportunity for us. We will benefit from the international presence, financial strength and other support available from Siemens." Peter Wingard, Managing Director of SBT UK Group said: "Photo-Scan represents an important strategic opportunity for SBT and forms a growth platform for our security activities in the UK. We look forward to welcoming the Photo-Scan team into our organisation and developing SBT’s UK security business together with them."
