Leading provider of security and warning solutions Spectur has entered into an agreement to acquire 3 Crowns Technologies, a provider of automated environmental monitoring systems, artificial intelligence software and data reporting solutions. The move will solidify Spectur as a global player in the provision of sensing, thinking and acting solutions outdoors, across a range of industries.
Safety, security, environmental monitoring, warning and surveillance are critical applications for communities and infrastructure owners around the world, and this agreement brings together two Australian leaders in these fields, to provide customers with a broader multi-sensor platform, and extended edge and cloud hybrid artificial intelligence ecosystem. This integrated broader sensing, thinking and acting platform becomes increasingly versatile and applicable to an even larger range of solutions.
Headquartered in Perth, Spectur is an innovative provider of cutting-edge technological solutions harnessing solar power and battery storage to solve security and safety problems in remote or off-grid locations.
Spectur’s autonomous surveillance and warning systems use advanced artificial intelligence and IoT technology to sense, think and act in response to threats without requiring human interaction, even in remote areas and harsh environments. The uniquely flexible, programmable and expandable platforms enable Spectur to develop ideal solutions to help clients reduce risk to people, property and the environment.
3 Crowns Technology (3CT) is an enterprise technology business with a focus on improving human interaction with the environment through automated analysis and understanding. 3CT does this through its full stack interconnected platform that is able to process real-time video and data from multiple sources and produce simple actionable insights for its customers in the government and corporate sectors.
3CT has a reputation for solving problems in the realms of emergency services, smart cities, disaster management, public space management and environmental monitoring.
Spectur Managing Director, Gerard Dyson, said “3CT is an extremely synergistic and strategic acquisition that we initially approached more than 12 months ago. Their alignment with our vision, strategic goals, customer base and technology aspirations had lifted them high in our priorities.”
“This transaction accelerates our R&D plans by 24 months or more in sensing and user interface and user experience expansion, and creates an even greater technology moat around Spectur.
“This acquisition perfectly fits our goals of making communities safer and resonates with our core differentiated sensing, thinking and acting platform.”
3CT General Manager, Russell Holt said “We are very excited to be joining forces with Spectur. 3CT has spent the last few years investing heavily in the company’s tech-stack and refining our product offerings, and we can clearly see that the two companies, together as one, will enable these investments to be realised in the form of customer growth.”
Spectur and 3CT are extremely complementary businesses, and bringing the two organisations together will expand the reach of both companies in an accelerated way.
In particular, 3CT brings a range of technology and other benefits that Spectur would otherwise be seeking to organically develop in the future. These include:
In addition, together the two companies will enjoy increasing dominance in safety and monitoring, with the broader range of 3CT customers neatly overlapping with Spectur’s government and utility customers.
“3CT is already a successful business, with three consecutive years of positive revenue and EBITDA results, and we expect that with modest investments in marketing and sales support from Spectur, that revenue can increase sharply in the near term,” said Dr Dyson.
“Spectur has kissed a lot of frogs in the last three years as we’ve looked at potential businesses to acquire. Careful review of tens of acquisitions, advanced discussions with a subset of these and substantial due diligence on two others in this period has characterised a deliberate ‘fussiness’.”
“But 3CT ticks all of our boxes, and we believe will add substantially and synergistically to the operations and strategic future of Spectur, creating shareholder value well in excess of the purchase price.”