Posts Tagged Waterloo

Waterloo’s Aimetis Acquired By Senstar

Aimetis, a Waterloo-based company that developed a suite of software products to manage security surveillance, is being acquired by Senstar for a reported US$14 million.  Aimetis was founded in 2001 and received $5 million in growth capital from Covington Capital in 2010.  Its software is used in sectors such as retail, government, transportation, and healthcare and enables users to analyze their surveillance video footage and supports camera networks and other security infrastructure.

Senstar is the Canadian division of Magal Security Systems, a provider of security, safety, and site management platforms for airports, seaports, borders, prisons, and other institutions in over 75 countries.  It is based in Yehud, Israel and is publicly traded on the NASDAQ and Tel Aviv Stock Exchange.

For more information, click here.

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Waterloo’s Navtech Acquired By Airbus

Waterloo-based aviation software company Navtech is being acquired by Airbus, the European aircraft manufacturing consortium based in France.

Navtech was founded in 1981 and develops and markets flight operations software for the commercial aviation industry.  Prior to the acquisition, it was generating an estimated $42 million in annual revenues and employed roughly 250 people.  The acquisition allows Airbus to move into the aviation software market, providing an opportunity for the company to sell Navtech software to its global customer base as well as to access its talented pool of engineers.  Financial details of the transaction were not disclosed.

To read more about the acquisition, click here.

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