The acquisition of PIPS Technology by Federal Signal has been completed for a transaction cost of US$115 million.
PIPS Technology is a leader in the field of automatic number plate recognition (ANPR) systems and optical character recognition software, with offices in Knoxville, Tennessee and Hampshire in the UK. Federal Signal Corporation for its part is a leader in the security solutions sector and sees this purchase as a cornerstone to future growth in this increasingly important market. ANPR solutions are used in control and surveillance applications in markets such as traffic and tolling, law enforcement, public safety, parking enforcement, physical security, travel time measurement, congestion charging, and access control. Cameras with ANPR systems are used on emergency vehicles, and at access entry and tolling points to capture license plate details for tolling and law enforcement purposes.