Moog Inc. continued its buying binge Friday with a $45 million deal to buy Videolarm Inc., a Georgia company that makes cameras and other products used in surveillance systems.
The acquisition gives Moog more of a presence in the security and surveillance markets and builds on the line of precision positioning systems and pan and tilt mechanisms that it acquired with its Quickset purchase in 2007.
The deal is expected to add $15 million to Moog's sales during the fiscal year that ends in September, but it is not expected to have a significant impact on earnings, Moog said. Videolarm, which is based in Decatur, Ga., had $19.5 million in sales last year.
"Applications are becoming more demanding, in terms of networking, system integration and meeting extreme environmental requirements," said Jay Hennig, the president of Moog's space and defense business.
Videolarm is the fourth business that Moog has purchased since late December. The company bolstered its medical device group with the $21 million purchase of Aitecs Medical, a Lithuanian medical pump maker, just before New Year's Day. It then acquired Ethox International in Buffalo in late January for $15.2 million in cash in a deal that Moog expects to broaden its product line for disposable items used by the infusion pumps that it makes.
The company then struck a $16 million deal two weeks ago to become a bigger player in the wind energy business, buying a 70 percent stake in Insensys ltd., a British company that makes components used in wind turbines. That deal is expected to expand the line of products that Moog makes for wind turbines, primarily equipment that stops and shuts down the turbines and also regulates their power output.