- Jenoptik Acquires Traffic Monitoring Firm Vysionics
JENA, Germany, Nov. 17, 2014 — The Jenoptik Group has acquired a 92 percent stake in road-safety technology firm Vysionics Ltd. of Frimley, England.
The remaining shares continue to be held by the organization’s management team. The purchase price was not disclosed.
Vysionics has 55 employees and is aiming for a revenue of around €20 million for 2014 (about $24.9 million). The company supplies systems for automatic number-plate recognition and section control, or speed enforcement over a defined section of road, such as construction zones.
Jenoptik, with 3500 employees, generated sales of about €600 million in 2013 (approximately $746.9 million). It has already deployed its own section-control technology in Austria, Switzerland and Kuwait.
CEO Michael Mertin said the acquisition gives Jenoptik access to a growth market in the U.K. Industry estimates have the worldwide plate-recognition market rising 14 percent per year through 2018.
For more information, visit www.jenoptik.com.
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