Bell ID B.V., a subsidiary of London-based Bell Group, has been acquired from current owner Securitas AB by the founder and current Chairman of Bell Group Mr. Pat Curran.
Bell ID's software business was not considered to fit strategically within Securitas' operations in the guarding, cash handling and security systems sectors. Financial details of the transaction have not been made public.
Bell ID was founded in 1993 and acquired in 2000 by Bell Group plc, the security business built by Mr Curran and listed on the London Stock Exchange in 1999. In June 2004 Bell Group was acquired by Securitas AB, with Mr. Curran remaining actively involved in the management of the Group, including Bell ID. While numerous parties expressed interest in acquiring Bell ID, the management gave its exclusive support to the agreement with Mr Curran, believing that it ensures Bell ID's stability and long term future as an independent company.
Under the new structure Mr Curran will become Chairman of Bell ID, with the existing long-standing management team remaining in place. Igno Peters will remain as Managing Director and Erik Vermeer as Technical Director. Martin Cox will take the role of Sales Director, with Erik Wellen becoming Head of Professional Services and Oliver Burke General Manager of Partner Management, Business Development and Marketing. Under the agreement, the entire team has committed to remain with the company for an undisclosed number of years.
Pat Curran commented: "I have been, and continue to be, committed to Bell ID, having seen the tremendous growth in both business and reputation since the acquisition by Bell Group in 2000. I am impressed by the dedication of the staff and the quality of the products and I'm excited about the future for Bell ID. With a clear focus on smart card management, a global, market-leading client reference list and the strength of multiple partnerships with industry leaders to fuel further growth, I believe that we have the ideal base to take the company to the next level of its development."
Igno Peters, Bell ID Managing Director, commented: "The management team believes that this represents a watershed for Bell ID. The Company will now be entirely privately funded and self-determining, with senior management driven solely by the demands of maintaining its leadership position in its growing market. We believe Bell ID is now better placed than any of its competitors to take advantage of the increasing demand for multi-application smart card solutions."