Pierre Racz, President of Genetec as the company announced that a patent infringement lawsuit initiated by a non-practicing entity (NPE) was withdrawn by the NPE at an early stage of the proceedings. In a rare result, the NPE paid an undisclosed sum to Genetec. The practice, known as “patent trolling”, involves groups that don’t create technology, but rather aggregate patents that are generally of no technological value to use as the basis to initiate IP infringement cases against businesses.
According to latest research from its video surveillance and analytics intelligence service Omdia, Genetec continues to build its position as the world’s number one developer of video surveillance software with a widening share of the market. Overall, Genetec grew at three times the pace of the market and demonstrated the fastest growth of all leading software companies across all geographies based on Omdia reported 2018 and 2019 data.
Genetec announced that it is significantly expanding its digital initiatives to make it easier for customers and partners to stay connected and informed over the coming months. Following the success of Connect’DX, the Genetec virtual trade show and conference, the company is planning a similar event in the fall. Genetec is also ramping up its education programs with the immediate online availability of its entire technical curriculum.
Genetec announced the keynote speakers and the details of the partner pavilion for Genetec Connect’DX, the company’s first virtual trade show which will take place April 20-22, 2020. Focused on technology, innovation and the challenges affecting the physical security industry, Connect’DX will provide an opportunity for security professionals from around the world to directly engage with each other as well as with Genetec and its partners.
Genetec now has over 1,500 employees and has offices around the world. The Genetec team is proud to state that this growth has been organic and not through acquisitions “…that would just make our top line look better.” Genetec is unabashed on focusing on enterprise-size customers and not the smaller “mom and pop” customers. They are a channel driven organization and will “shake up” their channel from time to time to make sure those integrators can continue to support the Genetec customers at the level Genetec feels is necessary.
This is another article in Security.World’s Company Grows series. We were fortunate to catch up with Pierre Racz, Founder, President and CEO of Genetec and chatted about how Genetec has grown over the years. Pierre Racz is not your typical growth company CEO in that he is first and foremost an engineer. He has a master of the underlying technologies, however, he has a keen sense of the market, where he and his company, Genetec, fits into the marketplace. Racz also is atypical in that he has been able to stay current on new technologies, grow his company past the pure entrepreneur stage, and now runs an industry leading video management software company.
Pierre Racz, president of Genetec has been& named EY’s 2014 Québec Entrepreneur of the Year in the Technology and Communications Category. The Canadian program is in its 21st year of honoring the country’s most impressive entrepreneurs from all areas of business.