Petards sells software business to BAE for $5m
BALTIMOREÃ¢â‚¬â€Petards, a surveillance systems manufacturer, last week announced that its parent company, Petards Group plc, sold its U.K. Government and Commercial software business, including the companyÃ¢â‚¬â„¢s Universal Video Management System, to BAE Systems Integrated System Technologies for $5 million.
Petards will continue to provide UVMS in North America through a licensing arrangement with BAE Systems.
Frank Baitman, president of PetardsÃ¢â‚¬â„¢ U.S. business said BAE has the experience to advance the UVMS software, which will enable Petards to expand its presence in the North American market.
Ã¢â‚¬Å“For the U.S. business this means only good things,Ã¢â‚¬Â he said. Ã¢â‚¬Å“Our relationship to UVMS isnÃ¢â‚¬â„¢t going to change dramatically Ã¢â‚¬â€ we are still going to be able to supply UVMS to the American market and the vast resources of BAE are going to be behind this offering now.Ã¢â‚¬Â
Baitman said UVMS is ideal for security personnel who are managing many cameras in real time and want to move between different views of live video.
Through this strategic relationship, Petards will also be providing BAE with insights into the North American security market that will help shape the productÃ¢â‚¬â„¢s direction. What is unique about this relationship, Baitman said, is that Petards will continue to have access to the source code and grow its own development and resources in the United States to continue to meet customer needs.
Petards will continue to sell its other security products and solutions, including its Hawk camera line for license plate recognition and its Swift wireless cameras, throughout the United States and Canada.