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SGX-Listed MultiVision Acquires US-Based Acqis' Surveillance Business; Eyes Global Mobile Surveillance Market

  • Buys surveillance business from California-based Acqis Technology Inc. for US$750,000;
  • Gains free access to Acqis' seven US patents to strengthen mobile surveillance capabilities;
  • Targets potentially US$450 million addressable market for police and security vehicles

SINGAPORE, 27 May 2004 - MultiVision Intelligent Surveillance Limited ("MultiVision") announced today a significant acquisition of the surveillance business from a US-based Company that will allow its highly integrated digital video surveillance products and solutions to beam back surveillance data and images wirelessly from moving vehicles.

Singapore Exchange Main Board-listed MultiVision announced today the acquisition of surveillance business (including perpetual access and existing clientele) from California-based Acqis Technology Inc ("Acqis"), a leading innovator for modular computer systems, for US$750,000 cash.

The acquisition will enhance MultiVision's technology portfolio with unlimited access to the seven US patents for the iMod and iSat systems from Acqis and offer significant opportunities to leverage the systems, especially for security surveillance in the transportation industry. This acquisition will also provide savings for MultiVision as Acqis is an OEM supplier for NetServer Smart, an existing mobile surveillance product with wireless communication capabilities offered by MultiVision.

In the US, four of MultiVision's NetServer Smart systems are now mounted on police patrol cars in Shaler town in Allengheny County, State of Pennsylvania for the purpose of collecting visual data as evidence. This pilot project is closely monitored by the state government for application for other local police forces. Similarly in the UK, a pilot programme involving 20 police cars fitted with the intelligent surveillance systems has also been rolled out. The systems with built-in support for car plate recognition will automatically match the video image of the car plate license captured with the database of record and alert the police on locating suspected vehicles. The systems also enable the police to capture video images of the vehicles while on the chase. The onboard database can be frequently updated either via the docking stations in the headquarters or downloaded wirelessly on the move.

There are presently an estimated 400,000 police cars in the US and the global addressable market for mobile surveillance systems is estimated to reach US$450 million in two years.

"This growth is expected to continue as we have witnessed the increasing deployment of mobile surveillance systems in police cars, buses, trains, trucks and airplanes. The MultiVision Mobile Systems Division is posed to capture this demand for surveillance solutions," said President and Chief Operations Officer, Mr. Dennis Li.

Mr. Li said: "A good modular computing system with intelligent surveillance capabilities makes up the heart of a highly integrated mobile surveillance system. Our strategic acquisition brings together the essential components for a single purpose of mobile surveillance development."

The acquisition, which was completed recently, will form MultiVision Mobile Systems. The new Division will fuel the expansion in the mobile surveillance arena with strong technology expertise and product portfolios including patents for leading edge mobile computing technologies, critical for mobile surveillance solutions. More importantly, this transaction will springboard marketing efforts in the US for the enlarged group.

This acquisition will be fully funded by MultiVision's internal cash reserves.

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About NetServer Smart
The NetServer Smart is MultiVision's mobile surveillance solution comprising of two components: a removable cartridge computer (iMod) and a small docking station (iSat). The iMod is the smallest form factor currently available in the market that is highly mobile with ease of maintenance and use. The iMod operates on 12 volt direct current (DC) and can be docked in different types of docking stations. The NetServer Smart can connect up to eight cameras and the recorded images can be streamed "live" from location or downloaded via a docking station for reviewing.

The iSat is specifically designed for the mobile environment with special considerations for heat and anti-vibration issues. It is the smallest PC-based system that can run enterprise surveillance software in the mobile space.

The NetServer Smart is protected by seven patents covering various aspects of the design, construction, data security, network communication and use of the modular computer system.

About Acqis Technologies Inc
Headquartered in Mountain View, California, USA, Acqis was established in 1998 and has developed the highly portable, one-pound computer module called iMod, a modular server computer that embodies computing power, main memory, storage and operating system software of a high-powered server computer into a small, removable modular form (iMod) that can be inserted into desktop base stations and portable AC-powered satellite stations (including iSat).

About MultiVision Intelligent Surveillance Limited
(Bloomberg: MVIS SP EQUITY/ Reuters: MVIS SI)
Headquartered in Hong Kong, MultiVision was established in 1986 and is a technology-based company principally engaged in the design, development and distribution of digital video surveillance products and solutions. The Company's products are adapted for use in a diverse range of industries including banking, residential, commercial, utilities, healthcare and transportation, as well as various government agencies. The end users of MultiVision's products include companies in both the private and public sectors. MultiVision is ISO9001 certified.

MultiVision's products and solutions are marketed to distributors, OEMs of surveillance products and systems integrators for integration into the security and surveillance systems of its end-users. The Company's principal markets are in Australia, Hong Kong, Taiwan and the PRC. MultiVision has 27 distributors in various countries and/or places such as Hong Kong, Taiwan, Macau, the PRC, Thailand, Malaysia, Singapore, Indonesia, Australia, New Zealand, Israel, Ghana, The Middle East, Ireland, UK, Latvia and the USA.

The MultiVision range of digital video surveillance products offers digital video recording and real time monitoring of multiple locations from a central monitoring centre through the routing of signals from various cameras to a central monitoring centre.
For financial year ended 31 March 2004, the Company recorded an increase of 35% increase in turnover to HK$129.0 million, and an increase of 49% in net profit to HK$37.6 million.

For further information, visit www.multivision.com.hk


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