Security systems integrator prepares to get its first taste of the Middle East market as acquisition talks near a conclusion.
European systems integrator Integralis is locked in acquisition talks with an unnamed security solution provider in the Middle East. As we were going to press, the two companies were thrashing out financial terms and expected to confirm their tie-up during April.
News of Integralis' impending arrival in the Middle East came via a statement to the German stock exchange. Although withholding its identity, Intregralis indicated that its quarry boasts a strong track record in the region.
"The solution provider, a strong profitable company specialised in identity management, has excellent relationships with vendors and distributors and a prestigious customer base in the government and finance sectors," said the statement.
400-strong Integralis - which has 15 global offices and bills itself as Europe's largest security system integrator - also hailed the Gulf region as "one of the fastest growing markets in the world" and called the acquisition an "important step" in its strategy.
The Prime Standard-listed outfit recently made it back into the black for the year - the first time that it has done so since going public almost 10 years ago. It reported a 2006 profit of US$3.7m compared with a US$3m loss the previous year. Revenues rose 21% to US$182m over the same period. Management is targeting EBIT margins of 7% to 8% this year.