Vicon announces purchase of Videotronic Infosystems
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 ViconÃ¢â‚¬â„¢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 VideotronicÃ¢â‚¬â„¢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 yearÃ¢â‚¬â„¢s period.
For the 2004 fiscal year, net sales topped out at $53.5 million, compared with $52 million in 2003.