Annapolis-based iJET Intelligent Risk Systems, an intelligence firm for multinational companies, has agreed to sell itself to a Swiss company for an undisclosed amount.
3i-MIND, a threat-management software company based in Zurich, Switzerland, said Wednesday that it wants to combine its products with iJET's "risk management solutions and proven intelligence expertise." Both firms are privately held.
iJET, which employs slightly more than 100 people, keeps tabs on problems worldwide — ranging from travel disruptions to political unrest — and helps clients get their employees out of dangerous situations when necessary.
Wednesday's acquisition announcement comes as an increasing number of Middle Eastern countries are in turmoil, with insurgents rising up against entrenched rulers, and as Japan is trying to recover from an earthquake, tsunami and nuclear crisis. iJET has helped some clients evacuate from the Middle East and found safer places in Japan for others to operate.
"As recent events have shown, it is no longer enough to simply react to evolving global threats and natural disasters with traditional tools and approaches," Yali Harari, chief executive of 3i-MIND, said in a statement. "The key to resiliency in this new world is the ability to innovate and leverage the trusted intelligence necessary to anticipate, prepare for and quickly respond to threats."
iJET will operate as a stand-alone firm under 3i-MIND's auspices after the acquisition closes at a yet-to-be-determined date, the companies said. iJET's chief executive, Stephen Hoffman, will remain at the helm of his organization and will join the new parent company's global management team.
Hoffman said it makes sense for the companies to combine.
"Both companies from different angles have been providing their clients information not only on what is happening but what will happen," he said.
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