Software firm Journeo has completed a £13.7m acquisition to buy Crime and Fire Defence Systems (CFDS), a specialist infrastructure protection provider.

The deal comprises approximately £10.7m in cash from existing resources, as well as £2m in deferred cash payments after one and then two years following completion.

The remaining £1m will be paid through the issue of new ordinary shares of 6.5p each in the company to the vendors of CFDS with a two-year minimum holding period.

CFDS, which reported an audited revenue of £17.3m for the year to 30 April 2025, is expected to have over £1m in cash on completion of the deal, resulting in an aggregate cash balance of £9m for the enlarged group.

Journeo provides technology and infrastructure systems to deliver smarter and more sustainable transport services. The company said the strategic acquisition would add depth to the capabilities of its “cost of failure” solutions across public transport, passenger information, and national infrastructure installations, such as those at major railway stations, international airports and nuclear power generation facilities.

“We are delighted to announce the acquisition of CFDS, a recognised leader in utility infrastructure protection solutions,” said Journeo CEO, Russ Singleton. “This acquisition aligns with our strategy of taking our core capabilities into adjacent markets and strengthens our offering and broadens our reach.

“We look forward to working closely with the CFDS team to unlock value and deliver enhanced integrated solutions to a broader client base.”

With four months of its financial year remaining, Journeo also revealed that it expects the acquisition to add £4m in revenue and £400,000 in pre-tax profit to its current full year expectations – which were group revenue of £52m and adjusted profit before tax of £5.2m.

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