Watson Burton law firm advised its New York Stock Exchange listed client Federal Signal Corporation on the US $17.2 million acquisition of Aylesbury-based Diamond Consulting Services Ltd. The deal completed successfully last month. Federal Signal is a world leader in environmental, safety and transportation solutions.

Diamond Consulting specialises in vehicle classification systems for road tolling and other intelligent transport systems. It provides the technology to detect the type of vehicles using toll roads, so that when they pass through an automatic checkpoint they are billed correctly.

Diamond’s Idris software is hidden in 'smart loops' under the tarmac. It can also be used with average speed cameras to improve their accuracy, to give buses priority at traffic lights and to count the number of vehicles using roads. The software is so sophisticated it can tell the difference between trailers and tailgating cars.

Federal Signal Corporation, based in Oakbrook, Illinois, is becoming a major force in American tolling technology. The acquisition of Diamond Consulting follows its purchase of PIPS, the traffic camera and automated license plate recognition specialists in 2007, for which Watson Burton also provided legal advice.

Federal Signal’s president and chief executive officer William Osborne said: “This acquisition is an important step in our strategy of driving growth through our public safety systems platform. Diamond Consulting’s expertise in road traffic software applications complements Federal Signal’s enforcement camera product.

“Our PIPS clients who also use Diamond Consulting’s software recognise the compelling value of the combined offering, further differentiating our solutions from the competition. I have tremendous respect for Diamond Consulting's people, technology and business, and I welcome the talented Diamond consulting team to Federal Signal.”

Gillian Hall, partner and head of corporate law at Watson Burton and intellectual property partner Ed Meikle worked with Federal Signal Corporation throughout the transatlantic transaction to acquire Diamond Consulting Services.

Gillian Hall said: “Working with UK and US companies concurrently to conclude a deal requires a great deal of co-ordination and close liaison and an ability to understand and explain the differences between two otherwise similar legal systems. We are delighted that the deal has completed successfully, to the benefit of the companies, their customers and shareholders.”

Diamond Consulting will operate as part of the Public Safety Systems business unit of Federal Signal's Safety & Security Systems group.

Paul Henry, Federal Signal Corporation’s in-house corporate counsel said: “Watson Burton’s understanding of our business and ability to respond quickly helped the deal progress extremely well.  Gillian Hall and her colleagues were important, valued members of our team.”