Magal Security Systems, Ltd. (NASDAQ GM: MAGS) today announced it has completed the acquisition of the entire share capital of E. S. C. BAZ Ltd. (“BAZ”), an Israeli-based company focused on the development and manufacturing of military-grade smart Security Video Observation and Surveillance systems.
Magal exercised its option to acquire the remaining outstanding shares from BAZ’s founder and current General Manager, Benny Zviran.
Over the past 45 years, Magal has delivered its products as well as tailor–made security solutions and turnkey projects to hundreds of satisfied customers in over 80 countries – under some of the most challenging conditions.
The solutions leverage our broad portfolio of home–grown PIDS (Perimeter Intrusion Detection Systems), Symphony – our advanced VMS (Video Management Software) with native IVA (Intelligent Video Analytics) security solutions.
A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission.