Memex sold to US software company
Technology firm Memex has been bought by US software giant SAS for an undisclosed sum.
The East Kilbride-based firm develops software for law enforcement agencies specialising in counter-terrorism and fighting organised crime.
SAS said the acquisition would allow it to target the market for "fusion" centres, which combine the resources of multiple law enforcement agencies.
Memex clients include police forces from the UK, the US and Albania.
SAS said it intended to grow the business globally under the existing executive management team.
Memex chief executive David Carrick said the two companies were a "natural fit".
"The combination of SAS's business intelligence and advanced analytic offerings with our enterprise search, information-processing and intelligence management offerings for the public security sector is unique within the marketplace," he commented.
Memex was originally a spin-out from Heriot Watt University.
It established its US subsidiary Memex Inc in 1996 and was subject to a management buy-out in 2001. Turnover in 2008 was about £8m.