Remote Monitored Systems, a data analytics & surveillance service provider recently announced plans to open a new security and surveillance wing.
These plans come soon after its recent acquisition of Cloudveil; a risk management company in a transaction valued at £130,000. The acquired company is a reputable leader in intelligence and risk control services and a service provider to government agencies and security companies worldwide.
RMS also clarified that it plans to collaborate with experts from Cloudveil to integrate intelligence and risk management capabilities to already-installed remote surveillance systems. The acquisition goes in line with the company’s plans to offer an all-inclusive service and reach more companies all over the globe.
This dream is now coming true as Cloudveil already offers services to top-class brands like Luxembourgish steelmaker ArcelorMittal along with defense forces in some Middle-Eastern countries.
Remote Monitored Systems Boss Trevor Brown said the takeover goes consistent with the company’s dream to extend its collection of tech to nearby markets and expand its international footprint.
In other RMS news,
RMS also reported that its shaft-monitoring division GyroMetric performed remarkably in 2019’s first half. The Company’s Boss said RMS has done an excellent job in the year particularly in exploring new markets.
Elsewhere, Remote Monitored Systems announced a drop in revenue from £460,330 to £261,854 in the first half of 2019 (which ended on Jun 30). It also reported a pre-tax loss of £821,312. This figure is almost double last year’s £495, 703 recorded within the same period.
RMS cited its Geocurve land survey wing’s “slower than anticipated” kick off at the beginning of 2019 explaining that it was caused by delays in one of its projects that needed fine-tuning. However, the security company also added that the division had returned to generating profits again in June.
Mergers are perfect way to expand your bottom line in a competitive marketplace. They help established companies add to their list of solutions and offerings to satisfy consumer needs. We’ve been seeing most of these M&A’s in the payment industry but RMS has adopted the same strategy with the same goals in mind and hopefully this acquisition will be fruitful.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and retail merchant services. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie in his backyard porch, as should all right thinking people.