Henley security system firm snapped up by Belgravium Technologies
HENLEY in Arden-based Access Fire and Security (AFS) has been acquired by software firm Belgravium Technologies for £500,000.
AFS supplies and installs access control and security systems into both commercial and educational buildings.
For the year ended 31 January 2014, it showed a turnover of £729,000 and a profit before tax of £29,000 with the balance sheet showing net assets of £213,000.
The acquisition of AFS is expected to be “significantly earnings enhancing” for Belgravium in the first year.
Bradford-based Belgravium Technologies is a provider of software applications and solutions to the retail, logistics and access control industries.
It said the acquisition is in line with its strategic objective of further strengthening its presence in the access control market.
Belgravium intends to merge the AFS business into its Feedback Data subsidiary, which will then operate from its existing base in Uckfield, East Susses, and the new base in Henley in Arden.
It suggests the combination will allow Feedback to enhance its geographic reach and to access additional security system sales and services to its growing user base.
