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Bosch Acquires Extreme CCTV
Strengthening its position in video surveillance
STUTTGART Germany Bosch has acquired the Canadian company Extreme CCTV Inc. The shareholders and option holders have accepted Bosch's offer of 5.00 Canadian dollars per share in cash, resulting in a transaction volume of approximately 93 million Canadian dollars (roughly 63 million euros). With the acquisition of Extreme CCTV, Bosch is strengthening its Security Systems division and extending its activities in video surveillance.
Extreme CCTV is a technologically leading manufacturer and supplier of active infrared illuminators, integrated day/night cameras with active illumination, and hardened imaging products for use in extreme environments. Furthermore, its product range includes systems for license-plate capture and recognition.
In 2007, the company and its 130 associates worldwide generated sales of approximately 43 million Canadian dollars (roughly 29 million euros). Extreme CCTV has locations in Burnaby (Canada), Newcastle (U.K.), Church Crookham (U.K.), and Barbados. The company has three well-known brands: Extreme, Forward Vision, and Derwent.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 272,000 associates generated sales of 46.1 billion euros in fiscal 2007. The Bosch Group comprises Robert Bosch GmbH and its roughly 300 subsidiary and regional companies in over 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spends more than three billion euros each year for research and development, and in 2006 applied for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as Workshop for Precision Mechanics and Electrical Engineering.
The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.
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