OpSec Security to purchase Light Impressions International

OpSec Security Limited, a division of OpSec Security Group plc, has signed a definitive agreement to acquire Light Impressions International Limited, a Surrey, UK-based provider of authentication devices.

The purchase price consists of an upfront cash payment of 2.0 million and a two year cash earn-out capped at 4.5 million, in addition to which OpSec will pay in cash on a pound for pound basis for the amount by which Light Impressions’ cash balances at completion exceed its immediate requirements.

Key employees from Light Impressions have agreed to stay with the business post the acquisition to help ensure a smooth transition.

OpSec is a provider of anti-counterfeiting technologies and services to over 100 governments and corporations worldwide. OpSec's products and services allow its corporate clients to authenticate and to track products from counterfeiting and diversion in both the physical and virtual worlds. Governments use OpSec technologies to guard against counterfeiting of currency, tax stamps, passports, drivers' licenses, licenses, and other government documents.

Light Impressions is a provider of holographic products to approximately 80 customers globally with a particularly strong presence in Asia. It creates its own holographic images and sources products from other holographic manufacturers but does not manufacture in its own right.

Mark Turnage, chief executive officer, said: ‘The team at Light Impressions has done an excellent job of building strong customer relationships and the acquisition of this company will give our European operations a significant presence in the Asian market. We expect the transaction to be earnings enhancing immediately and of significant benefit to the Group in future years.’