CCTV firm Quadnetics has its eye on Protec in £10m takeover

QUADNETICS, a company whose CCTV systems played a role in gathering information on the London bombers, today struck a £10 million deal to snap up a rival.

The all-share offer will see Quadnetics take over Watford-based security specialist Protec, whose customers include the Ministry of Defence and oil giant BP.

The takeover will strengthen the company's hand in clinching deals to fit more surveillance systems in prisons and high-security government buildings.

Quadnetics installed CCTV cameras and a video network around the City of London just before terrorists set off four bombs there on July 7.

Police have been scouring CCTV footage to detect the route of the attacker who blew up the bus at nearby Tavistock Square, killing 13 passengers. In addition to its work with the police, Quadnetics also has contracts to supply CCTV in the West End of London, Sheffield city centre and the city of Manchester.

Chairman David Coghlan said: "We expect the benefits of increased scale and focused management to add considerably to the future growth and competitiveness of both businesses."

Nearly two-thirds of shareholders in Protec have already agreed to back the deal, which has no cash alternative.