April 2, 2015
Sale of SeeTech to On-Net Surveillance Systems
GCA Altium has advised the shareholders of SeeTec AG, a leading provider of IP-based Video Management Software (VMS), on the sale to its US peer On-Net Surveillance Systems, Inc. (OnSSI). This transaction marks GCA Altium’s 3rd Technology & Telecom deal to date in 2015.
SeeTec’s IP-based next generation video management software provides security solutions as well as applications supporting the business processes in vertical markets such as logistics, transportation, banking and retail. The transaction combines the strengths of OnSSI and SeeTec by leveraging OnSSI’s industry-leading Ocularis VMS platform with SeeTec’s industry-specific solutions, especially its logistics suite of products, delivering an unparalleled solution for multiple vertical markets.
SeeTec’s customers include blue-chip companies such as DPD (logistics), ÖBB (transportation), HSBC (banking) Media-Saturn (retail) and Würth (industry).
L-Bank, the State Development Bank of Baden-Wuerttemberg, which specializes in high-growth technology companies through its EUR 100 million Venture Capital portfolio, has supported SeeTec’s growth since 2009 and was SeeTec’s largest shareholder prior to the transaction. S-Kap Beteiligungen, a Private Equity and Venture Capital company with currently 65 investments, has been a shareholder of SeeTec since 2011.
GCA Altium acted as exclusive financial adviser to the shareholders of SeeTec, which will remain invested in the combined entity. Terms were not disclosed.