Alarm.com Acquires OpenEye to Expand Commercial Solutions

Video Surveillance-as-a-Service Offering Creates Growth Opportunities in Enterprise Market for Service Providers

  • Oct 22, 2019

Alarm.com announced a majority-stake acquisition of OpenEye, a provider of cloud-managed video surveillance solutions for the commercial market. OpenEye is optimized for enterprise-level commercial customers requiring expansive video recording capabilities, in addition to remote viewing, administration and diagnostic reporting. Combined with the Alarm.com for business offering, service providers partnered with Alarm.com now have a solution to accommodate commercial accounts of any size.

OpenEye’s intelligent cloud architecture efficiently distributes video and event data to maximize control for both onsite command center operators and remote administrators. The hybrid solution delivers the high-resolution long-term storage, low bandwidth consumption, and centralized cloud management that enterprise users demand. OpenEye is currently utilized at over 14,000 business locations in the U.S. and Canada.

“OpenEye has consistently demonstrated that they are the unequivocal leader in the video-surveillance-as-a-service space and we are excited to help the team continue growing their business,” said Steve Trundle, president and CEO of Alarm.com. “OpenEye has a robust customer and partner list and our top priority is to ensure they all continue to experience great service. The addition of OpenEye will enhance the offerings available to Alarm.com partners in the commercial space. With the ongoing transition from traditional on-premise products to VSaaS, we’re creating new value for subscribers and additional RMR opportunities for our partners.”

OpenEye was founded in 1999 as an innovator in the design and development of cloud-centric software solutions for video management, business intelligence and loss prevention. The combination of OpenEye and Alarm.com expertise will provide a comprehensive, industry-leading suite of interactive cloud-based services spanning video, access control, intrusion and automation for domestic and international commercial enterprises of all sizes. In addition, OpenEye and Alarm.com have well-established reputations for delivering world-class customer service to their networks of service providers and integrators.

With the acquisition, OpenEye will be a subsidiary of Alarm.com. The company will continue operations under the OpenEye brand and be led by the existing management team. OpenEye Web

Services will remain an open cloud platform and the company remains committed to expanding its ecosystem of technology partners and integrated devices. Alarm.com intends to further invest in OpenEye’s growth and expand its headquarters presence in Liberty Lake, Washington.

“We’re excited about this next step in our evolution as the leader in cloud-based VSaaS,” said Rick Sheppard, CEO of OpenEye. “Alarm.com is the platform of choice for thousands of service providers that demand innovation and exceptional customer service. Combining their wide array of partner tools and resources with our capabilities will provide our partners with solutions that are second-to-none.”

The market for cloud-based video services, also known as Video-Surveillance-as-a-Service (VSaaS), is expanding rapidly as legacy solutions shift to new cloud-based architectures. According to IHS Markit, the Video Surveillance Market in the Americas region was $4.4 billion in 2018. Market share for VSaaS is forecast to increase from 9 percent of total spending in 2018 to 15 percent by 2022.

Featured

  • Gaining a Competitive Edge

    Ask most companies about their future technology plans and the answers will most likely include AI. Then ask how they plan to deploy it, and that is where the responses may start to vary. Every company has unique surveillance requirements that are based on market focus, scale, scope, risk tolerance, geographic area and, of course, budget. Those factors all play a role in deciding how to configure a surveillance system, and how to effectively implement technologies like AI. Read Now

  • 6 Ways Security Awareness Training Empowers Human Risk Management

    Organizations are realizing that their greatest vulnerability often comes from within – their own people. Human error remains a significant factor in cybersecurity breaches, making it imperative for organizations to address human risk effectively. As a result, security awareness training (SAT) has emerged as a cornerstone in this endeavor because it offers a multifaceted approach to managing human risk. Read Now

  • The Stage is Set

    The security industry spans the entire globe, with manufacturers, developers and suppliers on every continent (well, almost—sorry, Antarctica). That means when regulations pop up in one area, they often have a ripple effect that impacts the entire supply chain. Recent data privacy regulations like GDPR in Europe and CPRA in California made waves when they first went into effect, forcing businesses to change the way they approach data collection and storage to continue operating in those markets. Even highly specific regulations like the U.S.’s National Defense Authorization Act (NDAA) can have international reverberations – and this growing volume of legislation has continued to affect global supply chains in a variety of different ways. Read Now

  • Access Control Technology

    As we move swiftly toward the end of 2024, the security industry is looking at the trends in play, what might be on the horizon, and how they will impact business opportunities and projections. Read Now

Most   Popular

Featured Cybersecurity

Webinars

New Products

  • Unified VMS

    AxxonSoft introduces version 2.0 of the Axxon One VMS. The new release features integrations with various physical security systems, making Axxon One a unified VMS. Other enhancements include new AI video analytics and intelligent search functions, hardened cybersecurity, usability and performance improvements, and expanded cloud capabilities 3

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises. 3

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.” 3