Memoori’s recent annual report shows that the value of mergers and acquisitions in the Physical Security manufacturing industry fell to approx. $2.91Bn in 2019 almost the lowest we have recorded in the last 18 years. The main reason for the volatility is that within the last 5 year cycle there has been at least one major multi-billion acquisition per year, but not one this year. Given that in the video surveillance sector there is a need for western companies to build up scale to compete against the Chinese suppliers, there seem few opportunities to do so. The industry underwent a major restructuring during the period 2009 to 2011 after the 2008 financial crisis. Around that period a lack of confidence (and/or interest) by some major conglomerates caused them to divest their physical security product businesses. More recently there has also been a lack of buyers from outside the business, particularly Defense and IT. However Private […]