San Juan Capistrano-based network camera manufacturer IQinVision agreed to merge with Vicon Industries Inc. in Edgewood, N.Y., in an all-stock transaction.
IQinVision, a 16-year-old company that also operates a regional office in the Netherlands, serves various industries, including banking and healthcare. It had about $19 million in revenue last year.
Publicly traded Vicon, which makes components for video and surveillance systems, has a market value of $15.9 million. It had nearly $37 million in sales in 2013.
The merger is expected to close in the September quarter.
Both companies will retain their brands, according to Vicon. Neither offered specifics on what the merger holds for IQinVision’s local office.
―Jane Yu
