Shares of Burnaby, B.C.-based Extreme CCTV Inc. rose more than 26 per cent in Friday morning trading on the TSX after the company struck a deal to be acquired by Robert Bosch GmbH of Germany.

Extreme shares were up $1.02 at $4.92. Extreme CCTV 3-month TSX chart

Stuttgart-based Bosch is offering $5 a share for the Canadian company, putting a value of $93 million on the deal. The offer includes a 30 per cent premium over Extreme’s 30-day average price.

Senior managers at Extreme who control about 40 per cent of the company’s outstanding common stock have agreed to tender to the Bosch offer.

Extreme makes infrared illuminators and video surveillance equipment. The company had sales of $27 million last year. Extreme will become part of Bosch’s security systems division.

“[Extreme’s] innovative technologies will expand our product portfolio and strengthen our presence in Canada, the U.S. and the U.K.,” said Uwe Glock, the president of the Bosch security systems division.