Acquisition will expand global presence and create one of the largest VMS, PSIM and video analytics providers.
Qognify announced that it has signed a definitive agreement to acquire On-Net Surveillance Systems, Inc. (OnSSI) and the OnSSI company SeeTec GmbH. In bringing these award-winning technology solution portfolios together under one roof —including Qognify VisionHub, OnSSI Ocularis, and SeeTec Cayuga— Qognify becomes one of the largest VMS, Video Analytics, PSIM, and critical incident management companies in the world. Qognify is backed by global investment firm Battery Ventures.
OnSSI, also located in Pearl River, New York, was founded in 2002 with the goal of developing comprehensive and intelligent IP video management software (VMS). Today, the company has an established presence in more than 100 countries, where its Ocularis and Cayuga VMS solutions are relied upon by education, gaming, government, healthcare, manufacturing, retail, public safety, transportation, and utilities organizations.
With Qognify’s proven pedigree in delivering successful projects for financial services companies, mass-transit infrastructure, large international airports and seaports, as well as smart and safe city projects around the world, the acquisition sees the company establish a dominant global position in both the mid-market and enterprise sectors.
SeeTec GmbH is a pioneer of IP video technology and today a leading provider of VMS software in Europe. The Germany-based company was acquired by OnSSI in 2015 and boasts 100 employees, working out of offices across mainland Europe, Dubai, Scandinavia and the UK.
Steve Shine, CEO and President of Qognify states: “OnSSI and SeeTec solutions have a deservedly excellent reputation throughout the security sector. This is the perfect time to bring together our collective pool of physical security talent and technologies, to increase the range of target markets we are able to serve. The partnership also greatly increases the number of customers and partners for the combined business. This is a very exciting agreement for all of us.”
Gadi Piran, Co-Founder, President and CTO of OnSSI comments: “This coming together of two of the security sector’s most innovative companies, unleashes unrivalled opportunities for collaboration and brings to market a proposition that meets all security and operational management requirements, from powerful VMS to full scale intelligent situational awareness.” Piran adds: “Our collective market reach is truly global, with a strong presence in Europe, the US and Asia that will continue to grow.”
Jesse Feldman, General Partner at Battery Ventures, which acquired Qognify from NICE Systems in 2015 states: “Qognify has rapidly established itself as a trusted and progressive brand in the physical security sector. The acquisition of the OnSSI Group – a high-profile brand in the security market in its own right – is a major achievement in its history, but most importantly lays down a marker regarding its intent to grow faster and bigger.”
The transaction is expected to be completed by the end of 2018, subject to certain conditions and satisfaction of terms.Source: Qognify.com