Alarm.com Acquires Video Analytics Specialist ObjectVideo
Submitted on Thu, 03/16/2017 - 13:48
Jeff Bedell, Alarm.com chief strategy and innovation officer
ALARM.COM has acquired ObjectVideo, a provider of intelligent video software, including its products, technology portfolio and personnel. Terms of the deal were not disclosed.
The business will be called ObjectVideo Labs. Alarm.com’s announcement provided no details about what products or technology it had purchased from ObjectVideo.
“As video applications grow rapidly in both the residential and commercial spaces, this acquisition will reinforce our ability to continue to lead in the development of proactive, next generation connected home and business solutions,” says Jeff Bedell, Alarm.com’s chief strategy and innovation officer.
ObjectVideo was founded in 1998 by scientists and program managers from the Defense Advanced Research Projects Agency. In 2014, the company sold its intellectual property and patent licensing program to Avigilon for $US80 million.
The ObjectVideo acquisition follows Alarm.com’s $148.5 million acquisition of 2 business units from IControl Networks, which were completed last week in site of an anti-trust suit filed by Honeywell that seeks to prove the acquisition created a monopoly. ♦