OMG Plc, the Oxford based technology group that provides image analysis products for the entertainment, defence, life science and engineering industries, announced the acquisition of Sensing Systems, Inc., a Silicon Valley based provider of software products and services for aerial imaging applications. The purchase price was $2.5m in cash and $1m in OMG shares. A contingent share consideration of up to $5m will also be paid on the achievement of three cumulative revenue goals over c. four years.

Sensing Systems, which had sales of $1.5 million and pre-tax profits of $300,000, will complement OMG's 2d3 aerial imaging business.

Unlock the rest of this article with a 14 day trial

Unlock with Email
Unlock with Google

Already have an account?
Login here