Detection Technologies (D-Tec) announced that they had purchased Sentec's shares in their spin out Visual Protection Ltd (VPL), giving D-Tec a controlling interest.
Detection Technologies Ltd buys Cambridge company
D-Tec had already acquired a significant stake in the company from Intelligent Security Ltd (ISL) and has offered to buy-out all minority shareholders. The deal is the first trade sale exit for Sentec, which has a portfolio of spin out companies in various stages of development.
VPL has developed and patented very low cost algorithms and devices that can differentiate people, smoke and flame from any other events. This revolutionary technology enables companies developing systems for the growing CCTV market to include low cost event detection in their products as an additional benefit.
Andrew Dickinson, VPL's CEO said 'This is good news for VPL's shareholders. Through their association with the security group, AD Holdings, D-Tec has the industry experience and financial muscle to fully exploit VPL's groundbreaking technology. Shareholders will benefit from a cash payment up-front and a generous 'earn-out' from revenues attributable to VPL's technology.'
Ian Moore, D-Tec's Managing Director said 'Having worked closely with Sentec and VPL in the past we know that they are capable of developing world class technology solutions and we are pleased to be involved in the commercial exploitation of this extraordinary image processing innovation. As a recognised leader in the field of video fire detection, D-Tec is uniquely able to appreciate the value and potential of VPL both within its own portfolio and the wider AD Holdings group.'
Mark England, Sentec's Managing Director said, 'Sentec's business is commercialising its technologies through spin outs and licensing. This is a positive conclusion to our fourth spin out company and proves our ability to negotiate exits for our ventures as well as playing a very active role in their development.'
About Sentec Ltd
Based in Cambridge, UK, Sentec Ltd creates technology ventures - developing innovative core technologies and working with market leading companies to exploit these as products. We are one of the fastest growing technology companies in Europe, recognised in both the Deloitte & Touche Fast 50 and the Sunday Times TechTrack 100.
We have worked with partners across the world, including Invensys, Danfoss, Caterpillar and Morphy Richards. Our physics and engineering skills are used in many industry sectors, including consumer products, capital equipment, medical devices and security equipment.
Our innovative technologies have also formed the core product for several spin out companies - including Polatis, SmartBead Technologies and Visual Protection - which have between them attracted more than 10 million of funding.
About Detection Technologies Ltd
Detection Technologies Ltd (D-Tec) is the world's leading developer and distributor of camera-based fire detection systems.
Sentec: Hermione Crease 01223 303800
Visual Protection: Andrew Dickinson 08700 130909 Detection Technologies: Ian Moore 01420 476486
Sentec Ltd a Xylem Brand