The deal marks a significant milestone for Vitaprotech, materially expanding their access to the North American market, delivering on the strategic objective to further expand outside of Europe.
Vitaprotech Group, a leading European provider of electronic security solutions, has announced the signing of a stock and asset purchase agreement with Identiv to acquire its security business for US$145 million. This acquisition is expected to create a global leader in cybersecure physical security solutions for enterprise, hospital, OSE and government customers.
The deal marks a significant milestone for Vitaprotech, materially expanding their access to the North American market, delivering on the strategic objective to further expand outside of Europe.
Created in 2012, Vitaprotech is a French Group in security solutions for professional and, in particular, sensitive sites. The group designs, manufactures and distributes customized physical security solutions through its 14 member companies. These include: for access control, TDSi and ARD; for intelligent monitoring, Prysm and GS4; and for perimeter intrusion detection, Sorhea and Harper Chalice. Vitaprotech employs more than 500 people across their member companies and reported revenues of more than €100 million in 2023.
Identiv, meanwhile, has more than 200 employees and presence across the US, Canada, Germany and India. Their security business provides a high-security platform that has been employed by government agencies and commercial organizations worldwide. Its cloud-based software solutions have been granted FedRAMP Marketplace Authorization and its access control readers are certified as FICAM-compliant. Identiv is on asmag.com’s Security 50 list for 2023, ranking No. 26 with 2022 revenue of $112.9 million.
According to Vitaprotech, the combination of the two will establish a global leader in cybersecure physical security solutions that will benefit from each other’s innovation capabilities and global partner network. The combined group will generate revenues in excess of $185 million with more than 700 employees worldwide.
“I am very pleased to welcome Identiv’s security business into the Vitaprotech group. Identiv’s security business, under the Hirsch, Velocity, TouchSecure, ScramblePad and other Identiv brands, has built an excellent reputation and expertise in the field of high-security access control and video applications. The combination of its physical security, mobile access control and cloud-based offering is truly impressive and value enhancing for the whole Vitaprotech group. Steven Humphreys will join Vitaprotech as our Deputy CEO and Identiv’s management will lead our North American activities and key product and infrastructure activities. I am looking forward to working alongside them in shaping the future of this newly born global group,” said Eric Thord of Vitaprotech
Humphreys said: “This highly complementary business combination is a true win for both the Identiv and Vitaprotech teams as well as for our customers, partners and the industry overall. Our products together represent the industry’s most complete platform, spanning access control, perimeter security, video surveillance, analytics, credentials, physical and logical access readers, monitoring and physical security management software (PSIM’s). With deep strength in both Europe and the Middle East and across North America, we’re one of the most truly global security companies. Together we secure some of the most critical locations worldwide, with a platform built on the highest levels of cyber and physical security, scalable from small shops to global enterprises and government organizations. The entire Identiv team is excited to bring the full range of our combined high security capabilities to customers worldwide.”
Product Adopted:Other