Future Fibre Technologies Limited (FFT), a global provider of fiber optic perimeter intrusion detection systems, has announced it intends to make an off-market takeover bid for all of the shares it does not hold in ASX listed security company MaxSec Group Limited. FFT currently holds 65,000,000 MaxSec shares (or approximately 13.7 percent). The board of MaxSec has indicated it currently intends to recommend the offer, in the absence of a superior proposal.
The proposed acquisition seeks to take advantage of synergies between FFT’s perimeter security solutions and MaxSec’s access control and international valuables logistics offering. Yesterday, FFT announced a strategic investment in MaxSec and its intent to explore further investment opportunities in the leading security business.