Bosch is planning to acquire all shares of Extreme CCTV Inc., headquartered in Burnaby, Canada. With this acquisition, Bosch intends to boost its Security Systems division and extend its activities in video surveillance. Bosch is offering the companys stockholders 5.00 Canadian dollars per share in cash. The stockholders of Extreme CCTV include private and institutional investors as well as the company management. The expected transaction volume is some 93 million Canadian dollars (approximately 62 million euros). The transaction is subject to approval by the authorities and is expected to close in February 2008.
Extreme CCTV is a technologically leading manufacturer and supplier of active infrared illuminators for high performance imaging in dark conditions and when visibility is poor, as well as video surveillance products for use in all kinds of extreme environmental conditions including heat, cold, and darkness. Furthermore, its product range includes systems for license-plate capture.
In 2006, the company and its 130 associates worldwide generated sales of some 27 million Canadian dollars (approximately 19 million euros). Extreme CCTV has locations in Burnaby (Canada), Newcastle (U.K.), Church Crookham (U.K.), and Barbados. The company has three well-known brands: Extreme, Forward Vision, and Derwent.
"In acquiring Extreme CCTV, we want to extend our leading position in the fast growing video-surveillance market," said Uwe Glock, president of the Bosch Security Systems division. "The companys innovative technologies will expand our product portfolio and strengthen our presence in Canada, the U.S. and the U.K.," Glock said.
Even today, Bosch offers a wide range of systems and services in the area of video surveillance, access control, intruder and fire alarms, and evacuation systems. Bosch products include high-performance video cameras, digital recording and video management systems, wireless intruder alarm systems, and video network products. Bosch Security Systems solutions are used in a wide range of industries, and applications such as banks, city centers, industrial complexes, retail stores, train stations and airports. In 2006, Bosch Security Systems and its 10,300 associates at 45 locations worldwide generated sales of approximately 1.3 billion euros.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 260,000 associates generated sales of 43.7 billion euros in fiscal 2006. The Bosch Group comprises Robert Bosch GmbH and its roughly 300 subsidiary and regional companies in over 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spends more than three billion euros each year for research and development, and in 2006 applied for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861- 1942) as "Workshop for Precision Mechanics and Electrical Engineering."
The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares and voting rights are held by the Bosch family and by Robert Bosch GmbH.
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