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

  • Maximizing Your Security Budget This Year

    Perimeter Security Standards for Multi-Site Businesses

    When you run or own a business that has multiple locations, it is important to set clear perimeter security standards. By doing this, it allows you to assess and mitigate any potential threats or risks at each site or location efficiently and effectively. Read Now

  • New Research Shows a Continuing Increase in Ransomware Victims

    GuidePoint Security recently announced the release of GuidePoint Research and Intelligence Team’s (GRIT) Q1 2024 Ransomware Report. In addition to revealing a nearly 20% year-over-year increase in the number of ransomware victims, the GRIT Q1 2024 Ransomware Report observes major shifts in the behavioral patterns of ransomware groups following law enforcement activity – including the continued targeting of previously “off-limits” organizations and industries, such as emergency hospitals. Read Now

  • OpenAI's GPT-4 Is Capable of Autonomously Exploiting Zero-Day Vulnerabilities

    According to a new study from four computer scientists at the University of Illinois Urbana-Champaign, OpenAI’s paid chatbot, GPT-4, is capable of autonomously exploiting zero-day vulnerabilities without any human assistance. Read Now

  • Getting in Someone’s Face

    There was a time, not so long ago, when the tradeshow industry must have thought COVID-19 might wipe out face-to-face meetings. It sure seemed that way about three years ago. Read Now

    • Industry Events
    • ISC West
Most   Popular

Featured Cybersecurity

Webinars

New Products

  • 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

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols. 3

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings. 3