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Tek84 Inc. Announces Acquisition Of Idss Corp.

Mar 07, 2023•almost 3 years ago

Acquiring Company

Tek84

Acquired Company

IDSS

Public SafetySecurityCyber SecuritySecurityManufacturing

Description

High technology security screening and surveillance pioneer Tek84 Inc. announced today the acquisition of Integrated Defense and Security Solutions (IDSS) Corp., a global leader in airport scanner technology. Financial terms were not disclosed.

Company Information

Company

Tek84

About

Tek84 is a pioneer and global leader in high technology x-ray scanning security solutions. We developed the world’s first body scanner and today enhance security for law enforcement, military and dignitaries wherever it is needed most. Tek84’s Intercept is the fastest growing x-ray body scanning system for contraband detection in jails, prisons, juvenile detention facilities, court houses and border crossings. The company’s Boston-based affiliate, Videray Technologies, Inc. offers powerful yet portable handheld x-ray scanners for vehicles, packages, walls and objects. Customers worldwide rely upon Tek84 technology for safety and security, including U.S. Customs and Border Protection, U.S. Federal Bureau of Prisons, U.S. Department of Homeland Security and the State of Israel. Tek84 is headquartered in San Diego, California. For more information, contact info@tek84.com or visit www.tek84.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed