Magal Security Systems, Ltd. (MAGS) revealed the acquisition of a European company involved in the installation and integration of security systems for a cash payment of EUR 6.8 million and additional consideration that will be based on performance and will be payable over the next five years.
Magal Security Systems expect the acquisition to contribute to its expansion in the integration field, particularly in countries with strong growth potential for Magal's leading security solutions.
Looking forward, the company anticipates that the acquired company would immediately contribute to revenues and income in 2007 and beyond.
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