Moog announced it acquired Videolarm of Decatur, Georgia, for US$45 million in cash. Videolarm is a supplier of products for surveillance systems including integrated cameras, vandal resistant protective housings and networked solutions. The company had 2008 revenues of $19.5 million.
"Videolarm expands Moog's capabilities and solutions in the security and surveillance markets," said Jay Hennig, President of Moog's Space and Defense segment. "Applications are becoming more demanding in terms of networking, system integration and meeting extreme environmental requirements. Videolarm complements our 2007 QuickSet acquisition with innovative solutions and accessories, bringing more than 30 years of additional security experience to our product portfolio."
Videolarm is expected to add $15 million to Moog's sales for the balance of fiscal year 2009. As a result of first year purchase accounting adjustments and related financing costs, Moog expects the acquisition will not have a significant impact on previously forecasted fiscal year 2009 earnings per share. The acquisition will be reported as part of the Space and Defense segment.
Moog is a designer, manufacturer and integrator of precision control components and systems. Moog's high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine and medical equipment.