Alarm.com Buys OpenEye, Expands VSaaS Potential
Alarm.com has an eye on VSaaS.
Alarm.com has acquired a majority stake in OpenEye, a provider of cloud-managed video surveillance solutions for the commercial market for an undisclosed sum.
OpenEye is optimized for enterprise-level commercial customers requiring expansive video recording capabilities, in addition to remote viewing, administration and diagnostic reporting. OpenEye’s intelligent Cloud architecture efficiently distributes video and event data to maximize control for both onsite operators and remote administrators.
“OpenEye has consistently demonstrated that they are the unequivocal leader in the video-surveillance-as-a-service (VSaaS) space and we are excited to help the team continue growing their business,” says Steve Trundle, president and CEO of Alarm.com. “OpenEye has a robust customer and partner list and our top priority is to ensure they all continue to experience great service.”
“The acquisition will enhance the offerings available to Alarm.com partners in the commercial space. With the ongoing transition from traditional on-premise products to VSaaS, we’re creating new value for subscribers and additional RMR opportunities for our partners.”
OpenEye was founded in 1999 as an innovator in the design and development of Cloud-centric software solutions for video management, business intelligence and loss prevention. The combination of OpenEye and Alarm.com expertise will provide a comprehensive, industry-leading suite of interactive Cloud-based services spanning video, access control, intrusion and automation for domestic and international commercial enterprises of all sizes.
OpenEye, which has 14,000 commercial VSaaS clients, will be a subsidiary of Alarm.com and will continue operations under the OpenEye brand led by the existing management team. OpenEye Web Services will remain an open Cloud platform and the company said it was committed to expanding its ecosystem of technology partners and integrated devices.