Maxsec Group Limited, through its divisions BQT Solutions and Ava Global, is a leading designer, developer and global provider of secure smart card and reader systems, biometric scanners, locking devices and a growing global provider of international valuables logistics services.

The Proposed Acquisition seeks to take advantage of clear synergies between FFT’s perimeter security solutions and Maxsec’s access control and international valuables logistics offering. Under the terms of the offer, Maxsec Shareholders will be offered one FFT share for every four MSP shares.

The board of Maxsec has indicated it currently intends to recommend the offer, in the absence of a superior proposal, as according to the announcement, Maxsec believes that the opportunity to integrate FFT’s perimeter security systems with Maxsec’s access control solutions (BQT Solutions) and international valuables logistics services (Avaglobal) offers the potential to deliver increased sales through a combined product and services offering, an extended geographical reach and cross selling opportunities to both existing and new customers – delivering increased and diversified revenues to the new group.

In addition to a complementary client base, common and extensive network partnerships and a similar go-to-market strategy, multiple merger benefits have been identified, including the ability to achieve cost synergies in corporate, compliance and administration costs.

Commenting on the announcement, FFT Chairman Terry Winters said, “Bringing FFT and Maxsec together will create increased sales growth opportunities for the combined group as common customer requirements deliver both parties access to a larger share of the total security market through a greater suite of solutions. This proposed merger with Maxsec is in line with FFT’s strategic growth plan, and we believe it offers compelling value for all shareholders.”

Maxsec CEO Geoff Cleaves added, “The proposed merger of Maxsec with FFT is expected to transform two global leaders in the security industry into a significant force, offering diverse technologies and services, more effective selling synergies, operating efficiencies and greater geographic reach.”