Sign In

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.


ICON advises sale of software business to BAE

ICON Corporate Finance has advised Petards Group Plc, a developer of advanced surveillance systems, on the sale of its Government and Commercial software business to BAE Systems Plc.

The acquired business comprised the Universal Video Management System (UVMS), which manages CCTV data within casinos, train stations, arenas and shopping centres, and Advantage command and control software, together with the legacy software products 2nd Eyes, COBYT and Argus.

Under the terms of the deal, Petards will continue to be able to exploit UVMS in the USA casino marketplace having been granted exclusive licensing rights. Petards have also retained its other security products, including the Hawk camera, which is used for licence plate recognition, and its Swift wireless cameras.

ICON was appointed as corporate finance advisers to the AIM listed Petards in November 2007 to assist in the development and implementation of the Board’s strategy. The Group will now focus its operations on a more limited range of technologies and markets. The proceeds will be used to reduce Group debt and will also be invested in its remaining operations.

Eddie Harding of ICON Corporate Finance said: “We identified interest from a number of parties but BAE represented the best offer for the UVMS business both financially and in terms of strategic fit. As a result of the transaction, the Group now has a stronger balance sheet and is better placed to focus on its remaining operations in 2008.'

Middlesex based Petards, which has two sites in the US, is focused on high technology security and surveillance solutions.

BAE’s systems are built for air, land and naval forces as well as commercial operations, such as IT and customer support services. The group has 96,000 employees around the world and reported sales of £15 billion in 2006.

Publisher Contact Information:

ICON Corporate Finance
+44 (0) 207 152 6375

Company profile of ICON Corporate Finance
Past press releases of ICON Corporate Finance.


Tech investments
From our Online Data Service
VC-backed companies
From our Radar

Recent Deals

Nov 25€24.0MInternet commerce
Nov 8N/AOther Computers & Electronics
Nov 5€2.1MAudio/Video
Nov 5€5.2MOther Computers & Electronics
Nov 5€0.4MInternet services
Nov 5€1.3MSecurity
Nov 5€1.5MAudio/Video

For information on Europe's most extensive database on technology funding click here!


Press Releases

Sep 30
tetavi raises $6 million to help more companies bring 3d holograms ...

May 28
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
nethone raised over $1 million from innovation nest

Mar 31
the fit allocates chf 100'000 to comppair technologies

Jan 29
yumpingo raises $10m to transform guest experiences in restaurants

About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.