Sunday, 18 September 2005 10:11

Innovonics sells out to US for $33m

Mobile security camera developer Innovonics Limited (ASX:INO) has recommended shareholders accept a $33 million take-over bid by a US-based competitor.

The proposal from North Carolina company Integrian involves a recommended off-market takeover offer for all of the issued ordinary shares in Innovonics at a cash price of 82c per share, amost double what the company has been trading at.

Melbourne-based Innovonics has recently won a spate of multi-million dollar contracts to install digital security cameras and software on train systems in Australia, the UK, US and EU. The attention of Integrian was aroused when it was beaten recently by Innovonics for a $2 million US contract to put cameras on 2500 New Jersey buses.

The directors of tightly held Innovonics have unanimously recommended that Innovonics shareholders accept Integrian's bid in the absence of a superior offer. Each of the directors intend to accept the bid for all of the shares that they own or control, in the absence of a superior offer.

The price of 82c per share represents a premium of more than 90% to the volume weighted average price of Innovonics shares on the ASX for the 1 month to the close of trading on 13 September 2005 of approximately 42c.

Integrian is a developer and manufacturer of mobile digital video recorders to capture high quality video in rugged, mobile environments and tag, transmit, archive and search video files for various security and law enforcement purposes. The company is a direct competitor to Innovonics, which it obviously believes has superior technology.

See our comment on this story.

Subscribe to ITWIRE UPDATE Newsletter here


The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.



iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.


Stan Beer

Stan Beer assists with Digital Advertising installation and monitoring of advert performance. With 35 plus years of experience working in IT and Australian technology media, Beer has published articles in most of the IT publications that have mattered, including the AFR, The Australian, SMH, The Age, as well as a multitude of trade publications. Any previous news story submissions should be director to and advertising enquires to

Share News tips for the iTWire Journalists? Your tip will be anonymous




Guest Opinion

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News