Avigilon Corporation, the Canadian firm that just introduced the world to the smallest HD dome camera, has stated that it has bought web-based, physical and virtual access control system developer RedCloud Security. The Vancouver-based firm says that its acquisition adds “a complementary product line to its end-to-end high-definition surveillance solution.” The company also now has a foothold in the electronic access control market which many believe will grow to $6 billion by 2015. All this cost Avigilon $17 million in cash for the privately held RedCloud business.
Alexander Fernandes, president and CEO of Avigilon, spoke about the deal and said, “RedCloud founder, Terry Neely and his team have redefined physical access control with their unique approach to converging IT and physical security. Avigilon and RedCloud have parallel philosophies when it comes to providing innovative technologies that deliver the most return for our customers. This acquisition brings new and exciting opportunities for Avigilon to participate in a larger share of the total security market. I’m thrilled to welcome Mr. Neely and his team to Avigilon.”
Neely, who is the founder of RedCloud and former vice president of engineering at Honeywell Access Systems, said “Avigilon’s innovative approach to security products makes it a perfect home for RedCloud. With Avigilon’s resources, global sales channel and talented team we believe we can accelerate the expansion of our product roadmap and move the industry toward an integrated approach for IT and physical security.”
A press release from Avigilon talked more about the RedCloud deal and stated that, “Neely and his team created RedCloud’s access control so organizations can easily combine physical security and identity management. This helps organizations manage who can come and go from their facilities from one platform as opposed to separate systems that can lead to added costs and complexity. Unlike other access control systems RedCloud’s patented, web-based, physical and virtual appliance platform is open and has the ability to work easily with IT systems. Similar to Avigilon’s high-definition surveillance solutions, RedCloud’s products were engineered from the ground up for the modern IT era to deliver a new industry standard in performance, integration and ease of use. As a result, the company has experienced recent growth from selling their technology to large corporate and educational clients.”
The deal should give the Canadian firm some good prospects in the coming years as the press release mentions that, “The Company expects the acquisition to be neutral to 2013 earnings and accretive to 2014 earnings. Terry Neely will continue to lead the access control development team.”
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