Avigilon Signs Definitive Agreement to Acquire Video Analytics Company VideoIQ

Avigilon Signs Definitive Agreement to Acquire Video Analytics Company VideoIQ

  • Jan 06, 2014

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

  • Allegion, Comfort Technologies Implement Mobile Credentials at the Artisan Apartment Homes in Florida

    Artisan Apartment Homes, a luxury apartment complex in Dunedin, Florida, recently transitioned from mechanical keys to electronic locks and centralized system software with support from Allegion US, a leading provider of security solutions, technology and services, and Florida-based Comfort Technologies, which specializes in deploying multifamily access control, IoT devices and software management solutions. Read Now

  • Mall of America Deploys AI-Powered Analytics to Enhance Parking Intelligence

    Mall of America®, the largest shopping and entertainment complex in North America, announced an expansion of its ongoing partnership with Axis Communications to deploy cutting-edge car-counting video analytics across more than a dozen locations. With this expansion, Mall of America (MOA) has boosted operational efficiency, improved safety and security, and enabled more informed decision-making around employee scheduling and streamlining transportation for large events. Read Now

  • Security Industry Association Launches New “askSIA” AI Tool

    The Security Industry Association (SIA) has unveiled a brand-new SIA member benefit – askSIA, a conversational AI agent designed to help users get the most out of their SIA membership, easily access SIA resources and find the latest information on SIA’s training and courses, reports and publications, events, certification offerings and more. SIA members can easily find askSIA by visiting the SIA homepage or looking for the askSIA icon in the top left of webpages. Read Now

    • Industry Events

  • Industry Embraces Mobile Access, Biometrics and AI

    A combination of evolving workplace dynamics, technology innovation and new user expectations is changing how people enter and interact with physical spaces. Access control is at the heart of these changes. Combined with biometrics and AI, mobile access control has become increasingly crucial for deploying entry solutions that are seamless, secure and adaptive to user needs. Read Now

  • Sustainable Video Solution Delivered for Landmark City of London Office Development

    An advanced, end-to-end video solution from IDIS, with a focus on reducing waste and costs, has helped a major office development in the City of London align its security with sustainability objectives. Read Now

Most   Popular

New Products

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction.

  • AC Nio

    AC Nio

    Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions.

  • 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.”