Security and public safety software developer CompuDyne Corp. has been purchased by an investor group, taking the company private in a $59.6 million deal. The company’s operations include CAD, records management and other software for public safety agencies under the Tiburon Inc. brand, which is a pioneer among public safety software companies. CompuDyne had just reported its latest financial results of $35.6 million for the second quarter of 2007, with public safety software comprising $9.7 million of that figure, down slightly from the same quarter of 2006, and representing a loss of $100,000. The company’s purchase was for $7 a share. CompuDyne’s stock has traded as high as $17 a share during the last five years, but since mid-2005 has languished in the $5 to $7 range. Tiburon started operations in 1980 and grew through various acquisitions, and itself was purchased by CompuDyne in June, 2001 for $27 million.
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