One of the leading surveillance solutions manufacturer, Avigilon, which recorded colossal growth by grossing over $100 million in revenues in 2012, has now made a foray into access control. It has acquired RedCloud Security, a forerunner in Web-based, virtual, and physical access control systems. Having sealed the deal for $17 million in cash, Avigilon feels that the move will secure the interests of a wider section of consumers by adding a “complimentary product line” to an already impressive portfolio of HD surveillance systems, as well as let them tap into the rapidly growing market for electronic access control systems.
Trade experts estimate that the global market for access control systems will touch the $6 billion mark by 2015. This opens excellent prospects for both parties in this acquisition. Avigilon mentioned that the acquisition is expected to be neutral to the 2013 earnings and in 2014, it is set to be accretive.
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,” said Alexander Fernandes, president and CEO of Avigilon. “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.”
Avigilon also mentioned that the access control development team will continue to be led by Neely. With 25 years of experience in physical access control, Terry Neely was formerly the vice president of engineering at Honeywell Access Systems. Having created RedCloud access controls to increase security solutions for homes and businesses, Terry has taken the company to new heights in combining identity management with physical security. Both Avigilon and RedCloud have engineered their products from the ground up to deliver higher standards in integration, performance, and ease of access.
Avigilon’s innovative approach to security products makes it a perfect home for RedCloud,” said Terry Neely, founder, president and chief technology officer of 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.”
Home security systems, IP-based systems, access controls, and a host of other are hugely in demand as homeowners become more careful; hence; this market is only set to grow. With more and more companies expanding their services in this sector, the consumers now have much more choice and can really pick a top-notch and stay safe at all times.
Steven Ordona
Author & Pubic Relations – Steven is a fifteen year executive veteran of the home securityindustry and is now in charge of the site’s content. Steven is responsible for all the content created and also plays a critical role in our public relations department.