Tuesday, June 22, 2021

Vancouver video surveillance firm buys analytics provider

A Vancouver maker of digital video surveillance systems has closed out the year buying a video analytics firm.

Avigilon Corp. said Tuesday it has signed a deal to buy Massachusetts-based VideoIQ for $32 million. The deal is expected to close early next year.

VideoIQ says its proprietary technology includes live detection, event verification and instant notification of video streams. The company also says its software can learn and adapt.

Its products include the Rialto 14 appliance, a four-channel box which plugs into any IP surveillance system to add analytics, the R-series 1U rack storage device for IP or analogue systems, the ICVR Encoder for remote sites as well as HD cameras.

“VideoIQ’s analytics solution complements Avigilon’s innovative line of products,” Avigilon CEO Alexander Fernandes said in a statement. “The acquisition will give us sophisticated, commercially proven analytics technology supported by one of the leading analytics development teams in the industry.

“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.”

VideoIQ has a staff of 30. Customers include Alberta Health Services, which uses a system in a health clinic inside a shopping mall where it keeps an eye on late-working staff as they go into the parking lot. Other customers include school boards and a car dealership.

Publicly-traded Avigilon [TSX: AVO] raised $69 million in November through issuing new shares. The same month it also launched a new partner program.

For the fiscal quarter that ended Sept. 30 Avigilon reported net income of $8.6 million on revenue of $51.1 million in revenue, just over double what it pulled in for the same period in 2012.

Would you recommend this article?

0
0

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication. Click this link to send me a note →

Jim Love, Chief Content Officer, IT World Canada
Howard Solomon
Howard Solomon
Currently a freelance writer, I'm the former editor of ITWorldCanada.com and Computing Canada. An IT journalist since 1997, I've written for several of ITWC's sister publications including ITBusiness.ca and Computer Dealer News. Before that I was a staff reporter at the Calgary Herald and the Brampton (Ont.) Daily Times. I can be reached at hsolomon [@] soloreporter.com

Related Tech News