Mace Security International Inc. of Mount Laurel said today it is purchasing Securetek, a Miami designer and producer of hidden cameras, voice recorders and other electronic surveillance equipment.
Terms of the deal, which is expected to close today, were not disclosed.
Mace said Securetek is expected to generate $5 million in revenue this year and will be folded into Mace's security division. That division had $19.3 million in sales through the first nine months of this year, up from $10.7 million in the comparable period in 2004.
Overall, Mace had 2004 sales of $58 million, so Securetek will boost sales by nearly 9 percent a year.
Mace shares rose 3 cents in trading this morning to $2.46.