Moog not done buying in security
Moog apparently isn't content with just its Videolarm buy a year ago. Today comes news that the industrial firm had purchased a video company, which, frankly, I've never heard of. Here are the details:
EAST AURORA, N.Y., May 7 /PRNewswire-FirstCall/ -- Moog Inc. (NYSE:MOG.A and) (NYSE:MOG.B) announced today that the Company has purchased Pieper GmbH, a Schwerte, Germany based manufacturer of video products and integrated vision systems for security and extreme industrial environments. Pieper had 2009 revenues of euro 11 million. "Pieper's systems expertise and hardened video products for extreme environments expand our ability to solve the most difficult vision system problems for our customers," said Jay Hennig, Group President of Moog's Space and Defense segment. "Their headquarters in Schwerte will provide a base from which our security and surveillance businesses can provide superior, local service to our European customers." The acquisition is expected to add approximately euro 5 million to Moog's sales for the remaining 5 months of the 2010 fiscal year. As a result of first year purchase accounting adjustments, the acquisition is expected to be neutral to previously forecasted fiscal year 2010 earnings per share.Housings, hardened video - looks like Moog wants to be the go-to company for people who want to put their cameras in tough spots.