Avigilon Signs Definitive Agreement to Acquire Video Analytics Company VideoIQ

Avigilon Signs Definitive Agreement to Acquire Video Analytics Company VideoIQ

Avigilon Signs Definitive Agreement to Acquire Video Analytics Company VideoIQAvigilon Corporation, a producer of high-definition (HD) surveillance solutions, announced it has signed a definitive agreement to acquire the video analytics company VideoIQ, Inc. for cash consideration of $32 million. The transaction is expected to close in early January 2014.

Founded in 2006, VideoIQ has grown to become a leader in real-time, intelligent, video analytics solutions for security and business intelligence applications. VideoIQ has a developed portfolio of video analytics intellectual property, with 23 patents granted or pending, trade secrets and know-how. Headquartered in Billerica, MA, its highly-skilled and experienced workforce will extend Avigilon’s growing team. VideoIQ’s proprietary technology includes live detection, event verification and instant notification, and self-learning capabilities.  

“VideoIQ’s analytics solution complements Avigilon’s innovative line of products,” said Alexander Fernandes, president and CEO of Avigilon. “The acquisition will give us sophisticated, commercially-proven, analytics technology, supported by one of the leading analytics development teams in the industry. VideoIQ is transforming the future of intelligent surveillance and I am pleased to welcome the team to Avigilon.” 

VideoIQ has approximately 30 employees and a diversified, blue-chip customer base in multiple industries. 

“We believe there is an opportunity to increase the sales of both VideoIQ and Avigilon surveillance systems in the near term by bringing VideoIQ’s existing products into our established global distribution channels,” Fernandes added. “Over time, as we integrate VideoIQ’s technology into the Avigilon system, we will expand our end-to-end, high-definition surveillance solutions to include robust analytics capabilities, giving end users the ability to prevent crime proactively and more effectively analyze large amounts of data.”

GMP Securities LP acted as the exclusive financial advisor to Avigilon on the transaction, and Raymond James & Associates, Inc. acted as the exclusive financial advisor to VideoIQ on the transaction.

Featured

  • Trends Keeping an Eye on Business Decisions

    Today, AI continues to transform the way data is used to make important business decisions. AI and the cloud together are redefining how video surveillance systems are being used to simulate human intelligence by combining data analysis, prediction, and process automation with minimal human intervention. Many organizations are upgrading their surveillance systems to reap the benefits of technologies like AI and cloud applications. Read Now

  • The Future is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reason. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. But as the number of cameras grows and resolutions push from HD to 4K and beyond, the cloud’s limits are becoming unavoidable. Bandwidth bottlenecks. Latency lags. Rising storage costs. These are not abstract concerns. Read Now

  • The Impact of Convergence Between IT and Physical Security

    For years, the worlds of physical security and information technology (IT) remained separate. While they shared common goals and interests, they often worked in silos. Read Now

  • Unlocking Trustworthy AI: Building Transparency in Security Governance

    In situations where AI supports important security tasks like leading investigations and detecting threats and anomalies, transparency is essential. When an incident occurs, investigators must trace the logic behind each automated response to confirm its validity or spot errors. Demanding interpretable AI turns opaque “black boxes” into accountable partners that enhance, rather than compromise, organizational defense. Read Now

  • Seeking Innovative Solutions

    Denial, Anger, Bargaining, Depression and Acceptance. You may recognize these terms as the “5 Phases” of a grieving process, but they could easily describe the phases one goes through before adopting any new or emerging innovation or technology, especially in a highly risk-averse industry like security. However, the desire for convenience in all aspects of modern life is finally beginning to turn the tide from old school hardware as the go-to towards more user-friendly, yet still secure, door solutions. Read Now

New Products

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area.

  • 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.

  • 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