EAST AURORA, N.Y., Feb. 16 (UPI) -- U.S. company Moog Inc. has acquired surveillance technologies developer Videolarm Inc. in a move to expand further into the security and surveillance markets.
Moog announced the acquisition of Videolarm for a total of $45 million in cash. Moog officials say the cameras and other security and surveillance products developed by Videolarm will support the company's efforts to further expand its defense and homeland security portfolio.
"Videolarm expands Moog's capabilities and solutions in the security and surveillance markets," Jay Hennig, Moog space and defense segment president, said in a statement.
"Applications are becoming more demanding in terms of networking, system integration and meeting extreme environmental requirements."
Moog says the acquisition of Videolarm will complement its purchase of precision positioning systems and pan-and-tilt mechanisms developer QuickSet in 2007.