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Federal Signal acquires Diamond Consulting Services and Idris brand

Federal Signal Corporation has acquired UK-based Diamond Consulting Services (DCS), which specializes in vehicle classification systems for tolling and other Intelligent Transportation Systems (ITS). The deal is worth US$14.6 million and deferred payments in future years of up to US$3.2 million. The transaction will be immediately accretive to Federal Signal shareholders. The combination of DCS’s technology with Federal Signal’s existing PIPS automated license plate recognition technology broadens the company’s ITS product line and market.

DCS’s automatic vehicle classification technology uses advanced proprietary software to detect vehicles in a variety of safety, tolling and data collection applications and is recognized worldwide by the Idris brand. The Idris system classifies vehicles with great accuracy and is the de facto standard in the USA for axle-based electronic toll collection. When used in conjunction with PIPS, it forms the basis of the latest All Electronic Toll Collection (AETC) systems. DCS will operate as part of the Public Safety Systems business unit of Federal Signal. It intends to continue to develop and strengthen the relationship with DCS’s Idris Technology Partners (ITPs) and will strengthen the resources of DCS to enable developments of Idris technology to be accelerated and further synergies between Idris and PIPS to be realized.

“DCS has built a strong position in the traffic industry over the past 15 years and has become an enabler in the evolution of tolling,” says Bob Lees, founder and managing director of DCS. “We look forward to working with Federal Signal to deliver yet more innovative products to our existing and new customers, while maintaining the high level of service they have come to expect from DCS.”

“This acquisition is an important step in our strategy of driving growth through our Public Safety Systems platform,” adds William Osborne, Federal Signal’s president and CEO. “DCS’s differentiated expertise in road traffic software applications and axle recognition technology complements our enforcement camera product. Our PIPS clients who also utilize DCS software recognize the compelling value of the combined offering, further differentiating our solutions from the competition.”

 

December 11, 2009

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