SYDNEY, AUSTRALIA: The Codan Group (ASX:CDA) has acquired Eagle NewCo Limited from NEC Software Solutions UK Limited (NEC) for A$22 million.
Eagle is a UK command and control solutions business and a carve out from NEC’s UK operations, is a leading software supplier to the emergency services,
public safety and control room markets.
Eagle provides mission critical control room communication and workforce management solutions to over 100 emergency services and transport customers across the United Kingdom, Europe and the Middle East.
Eagle’s solutions are currently used by more than two‐thirds of police forces in the United Kingdom, as well as by major transportation hubs and airports
(including Dubai International airport) and the London Underground.
This acquisition is consistent with Codan’s inorganic growth strategy to acquire technology and capability through complementary acquisitions that accelerate growth, with this acquisition focussed on its core public safety market segment.
Eagle will be integrated into Codan’s Zetron business and will significantly strengthen Zetron’s presence in the UK public safety market and provides a platform to further expand Zetron’s business across Europe and the Middle East.
Importantly, Eagle is a supplier
to the UK Home Office on the Emergency Services Network (ESN) transition project and positions Zetron to capture market opportunities arising from this transition.
Scott French, Zetron President and Executive General Manager, said:
“The acquired technologies immediately widen our core capabilities and also provide new international growth opportunities across public safety and transportation.
We are excited to welcome the Eagle
team to Zetron and look forward to the expansion and continued development of our operational footprint in the UK.”
Codan expects to spend a further ~A$3
million in set up and in integration costs over the next 12 months.
As the acquisition is a carve out from
NEC’s operations, Codan has entered into a transitional services agreement with NEC while it integrates Eagle into Zetron’s systems and support services for a minimum period of 6 months with options to extend, if needed.
Codan expects the integration of Zetron to be fully completed within 12 months.
