Magal S3 acquires global software company Aimetis Corp.
YEHUD, Israel—Magal Security Systems, Ltd., located here, announced that Senstar, its fully owned subsidiary based in Canada, acquired Aimetis for an enterprise value of approximately $14 million.
Aimetis, a Canadian-based company headquartered in Waterloo, Ontario, is a global company specializing in intelligent IP video management software (VMS), and was recently recognized by Deloitte, a consulting and accounting firm, as one of the fastest growing technology companies in North America.
“Aimetis’ product portfolio is highly complementary to Senstar’s large portfolio of perimeter intrusion detection systems (PIDS), adding a state-of-the-art video surveillance offering with unmatched solutions for outdoor and critical sites,” Saar Koursh, CEO of Magal S3, said in the announcement. “The acquisition expands the product portfolio by about 20 percent, and diversifies our offering into new markets such as education, health care and retail.”
In the statement, Brian Rich, president of Senstar, added, “We welcome the very talented team at Aimetis to Senstar and look forward to realizing the synergies between our companies by expanding our product offering, customer reach and leveraging our global geographical footprints. Together, we now have a unique offering of intelligent video combined with the strongest cyber security solution in the market for video and general physical security networks.”
Marc Holtenhoff, CEO of Aimetis, in the statement noted that the acquisition comes at an ideal time with the launch of the company’s new Symphony version 7, the latest version of its intelligent video management software (VMS). “We look forward to growing as part of Senstar and Magal,” he said in the announcement.