Vicon announces purchase of Videotronic Infosystems
By SSN Staff
Updated Thu December 9, 2004
December 9, 2004
HAPPAUGE, N.Y. - Vicon Industries, a provider of digital video management systems, completed its year with a purchase of Germany-based Videotronic Infosystems GmbH.
Videotronic, which was purchased for approximately $1 million, will become part of Vicon’s European unit. The deal gives the European division an opportunity to secure a presence in the German video security market.
Videotronic, a 30-year-old video supplier, has operated under bankruptcy protection since June 2004. Vicon infused approximately $500,000 of capital into the company and plans to integrate the Vicon product line to expand Videotronic’s offerings.
Vicon also reported its fourth quarter and fiscal year 2004 results. For the fourth quarter, net sales were $13.4 million, compared with $13.8 million in the previous year’s period.
For the 2004 fiscal year, net sales topped out at $53.5 million, compared with $52 million in 2003.
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