Magnet Forensics purchases DME Forensics to expand company
Posted Sep 16, 2021 01:00:00 PM.
A Waterloo-based tech company is acquiring a video and multimedia evidence solution company, a deal worth about $9-million.
Magnet Forensics, a developer of digital investigation software, used globally by public safety organizations, is growing with the acquisition of DME Forensics.
The deal includes $6.75-million in cash, and $2.25-million over the next two years, “based on the achievement of certain integration-focused targets.”
In addition, Magnet said all DME's workers will be retained, including the management team.
Magnet said the purchase allows them to incorporate new capabilities, such as recovering video and metadata evidence from digital video recorder systems in a sound manner.
The International Association of Chiefs of Police said video evidence is important, and there are limited tools to reliably enhance and analyze video.
As an example, a municipal police force based in the state of Washington reported it has recovered 34,590 videos in 2019, up from 331 videos in 2013.
