Moog Inc. [MOG.A, MOG.B] on Friday said it has acquired Videoalarm, Inc., a maker of integrated cameras and related products, for $45 million in cash, marking its first deal that directly positions itself in the video surveillance market space.
In addition to integrated cameras, Georgia-based Videoalarm makes vandal resistant protective housings for surveillance systems and networked solutions.
In 2007 Moog acquired QuickSet International, a manufacturer of precision positioning systems and pan and tilt mechanisms. QuickSet’s products are used to position surveillance cameras, thermal imagers, sensors and communication antennae for military, homeland security and commercial applications.
“Videoalarm expands Moog’s capabilities and solutions in the security and surveillance markets,” Jay Hennig, president of Moog’s Space and Defense Segment, said in a statement. “Applications are becoming more demanding in terms of networking, system integration and meeting extreme environmental requirements.
Videoalarm complements our 2007 QuickSet acquisition with innovative solutions and accessories, bringing more than 30 years of additional security experience to our product portfolio.”
Videoalarm had $19.5 million in sales last year and is expected to add $15 million to Moog’s sales in FY ’09. Moog doesn’t expect the deal to have significant earnings accretion in FY ’09 due to accounting rules and financing costs.