BSD.L Regulatory News (BSD)

29 Mar 2005 07:01

Emblaze Ltd28 March 2005 28 March 2005For immediate release Visual Defence INTENTION TO FLOAT Visual Defence ("Visual Defence" or "the Company"), a leading provider ofintegrated software and hardware solutions for digital audio-visual securitysystems over broadband, IP and wireless networks, announces its intention tofloat on the Alternative Investment Market of the London Stock Exchange. Visual Defence is a result of a merger of equals between the Israeli EmblazeDefence, and Canadian Girit/AVLogic - both Video Security specialists forenterprise, government and Homeland Security projects. The merged company, Visual Defence, has won multi-million dollar key tendersin North America, International and European airports, Israeli Defence Forcesand US Homeland Security for the management and provision of secured videosurveillance over wireless and fixed IP networks. The Company employs over 70 employees, headquartered in Toronto, Canada with R&Dand Sales and Marketing operations in both Canada and Israel. The flotation will enable Visual Defence to raise new funds to increase salesand marketing and provide balance sheet strength for contract tenders. Theflotation will also provide the Company with financial flexibility to capitaliseon the anticipated growth in the homeland security and enterprise surveillancemarkets worldwide. Visual Defence provides solutions that enable digital audio-visual ("AV") datato be captured from a variety of sources, such as fixed or mobile cameras,microphones, infra-red sensors, access controls and burglar alarms and deliveredto local or remote locations where it can be managed and monitored. TheCompany's solutions are primarily targeted at government establishments, themilitary, mass transport centres such as airports, seaports, underground trainsand large commercial enterprises. A key strength of the Company's systems is that they integrate with legacyanalogue equipment, overcoming problems of compatibility and replacement coststhat potential clients face in the process of migrating from analogue to digitaltechnologies. In addition, the Company's digital AV technology platform enablesthe introduction of "next generation" security and surveillance applicationssuch as face recognition, motion detection and real time distribution of imagesand other data to multiple sites. Spending on advanced visual security technologies is expected to increase by 54%per annum to $7.4bn by 2007 as a result of high priority being given to theprevention and protection against terrorism and crime. The global homelandsecurity market, dominated by the US, is currently worth some $42bn and theentire security market is worth about $120bn. KBC Peel Hunt Ltd is acting as nominated adviser and broker to Visual Defence. Enquiries: Visual DefenceStuart Steinberg 905-731-1254 EmblazeDoron Cohen, Hagit Gal + 972 9 7699831/ 339 KBC Peel HuntDavid Davies 020 7418 8900 Corfin CommunicationsLocksley Ryan, Neil Thapar 020 7929 8989 - ENDS - This information is provided by RNS The company news service from the London Stock Exchange