Saptharishi brings deep domain expertise in intelligent video analytics and experience launching innovative products to Avigilon leadership team
VANCOUVER, Sept. 25, 2014 /CNW/ - Avigilon Corporation ("Avigilon") (TSX:AVO), a leading global provider of end-to-end security solutions, today announced the appointment of Dr. Mahesh Saptharishi to chief technology officer (CTO), effective immediately. Dr. Saptharishi most recently served as senior vice president, analytics and data science at Avigilon and has been with the company since its acquisition of VideoIQ Inc. in January 2014. He brings a deep understanding of intelligent video analytics technologies as well as experience creating new products and leading successful teams. The appointment is effective immediately; Dr. Saptharishi will continue to report directly to Bryan Schmode, Avigilon's chief operating officer. Dr. Saptharishi has over 17 years of experience developing intelligent video analytics technology as well as software and camera hardware specifically for the security industry. Prior to joining Avigilon earlier this year, Dr. Saptharishi was president, chief technology officer and co-founder of VideoIQ, Inc. Dr. Saptharishi also co-founded and led the core analytics team at Broad Reach Technologies, Inc., where he was vice president of research & development. A highly respected thought leader in the surveillance industry, Dr. Saptharishi received his doctorate in machine learning from Carnegie Mellon University, where he was involved in research on autonomously navigating vehicles at the Robotics Institute and the Institute for Complex Engineering Systems. He has also authored multiple peer reviewed scientific publications, articles and patents. "As Avigilon continues to push the boundaries in the video surveillance market to enable global customers to improve security, efficiency and decision-making, we depend on visionary leaders like Mahesh to develop innovative new products that leverage the most cutting-edge technologies. I am very excited that Mahesh will serve as Avigilon's CTO. He is a pioneer with a proven track record of developing innovative new products and solutions," said Bryan Schmode, chief operating officer, Avigilon. "In the security industry, we need to stay 10 steps ahead so we are constantly delivering the innovation our customers need to keep their assets and people secure and to make better business decisions. The future of Avigilon is bright and we will continue to lead the security industry with our forward-thinking technology and products. "
As CTO, Dr. Saptharishi will be responsible for driving innovation in Avigilon's product and intellectual property portfolios, identifying strategic technology capabilities, and exploring new business opportunities. His primary focus will be to strengthen and extend Avigilon's end-to-end solutions by developing advanced technologies that will continue to digitize the physical world, enabling customers to make sophisticated, informed decisions about their surroundings. About Avigilon
Avigilon Corporation is defining the future of protection through innovative end-to-end security solutions. Avigilon's industry-leading HD network video management software, megapixel cameras, access control and video analytics products are reinventing the security market. Information about Avigilon can be found at avigilon.com . AVIGILON and other marks used herein are the registered and/or unregistered trademarks of Avigilon Corporation and/or its subsidiaries in Canada and other jurisdictions worldwide. Other product names mentioned herein may be the registered and/or unregistered trademarks of their respective owners. Forward Looking Statements
Certain statements contained in this news release, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, we have made numerous assumptions. Although our management believes that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that any forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks, uncertainties and other factors include, among other things those risks identified in Avigilon's most recent Annual Information Form and prospectus, each of which is filed on SEDAR at www.sedar.com . Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements or information. Avigilon undertakes no obligation to reissue or update any forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement. SOURCE  Avigilon Corporation


Avigilon Appoints Dr. Mahesh Saptharishi to Chief Technology Officer

Vancouver-headquartered Avigilon today announced it has signed a definitive agreement to acquire the video analytics company VideoIQ for $32 million with the transaction closing in early 2014. Avigilon is a leader in high-definition (HD) surveillance solutions and recently celebrated their IPO's two year anniversary . Founded in 2006, VideoIQ has grown to become a leader in real-time intelligent video analytics solutions for security and business intelligence applications. VideoIQ has a developed portfolio of video analytics intellectual property, with 23 patents granted or pending, trade secrets and know-how. VideoIQ's proprietary technology includes live detection, event verification and instant notification, and self-learning capabilities. VideoIQ has approximately 30 employees and a diversified, blue-chip customer base in multiple industries. "VideoIQ's analytics solution complements Avigilon's innovative line of products," said Alexander Fernandes, president and CEO of Avigilon. "The acquisition will give us sophisticated, commercially proven analytics technology supported by one of the leading analytics development teams in the industry. VideoIQ is transforming the future of intelligent surveillance and I am pleased to welcome the team to Avigilon. "
Company:
Location:
Vancouver, British Columbia, Canada
Avigilon (TSX: AVO) is defining the future of the security industry through innovative, end-to-end solutions. Delivering the world’s best technology, Avigilon’s industry-leading HD network video management software, megapixel cameras, access control and video analytics products outpace the competition by a wide margin. We offer customers in more than 120 countries a customizable end-to-end,... more
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Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information.The Techvibes Newsdesk covers a broad beat and publishes general news stories.If you have a story you would like covered, email... more
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Avigilon Makes $32 Million Acquisition to Close Banner Year

To acquire leading analytics platform in emerging segment of surveillance industry
VANCOUVER, Dec. 31, 2013 /CNW/ - Avigilon Corporation ("Avigilon") (TSX: AVO), a leader in high-definition (HD) surveillance solutions, today announced it has signed a definitive agreement to acquire the video analytics company VideoIQ, Inc. ("VideoIQ") for cash consideration of US$32 million. The transaction is expected to close in early January 2014. Founded in 2006, VideoIQ has grown to become a leader in real-time intelligent video analytics solutions for security and business intelligence applications. VideoIQ has a developed portfolio of video analytics intellectual property, with 23 patents granted or pending, trade secrets and know-how. Headquartered in Billerica, MA, its highly skilled and experienced workforce will extend Avigilon's growing team. VideoIQ's proprietary technology includes live detection, event verification and instant notification, and self-learning capabilities. "VideoIQ's analytics solution complements Avigilon's innovative line of products," said Alexander Fernandes, president and CEO of Avigilon. "The acquisition will give us sophisticated, commercially proven analytics technology supported by one of the leading analytics development teams in the industry. VideoIQ is transforming the future of intelligent surveillance and I am pleased to welcome the team to Avigilon. "
VideoIQ has approximately 30 employees and a diversified, blue-chip customer base in multiple industries. "We believe there is an opportunity to increase the sales of both VideoIQ and Avigilon surveillance systems in the near term by bringing VideoIQ's existing products into our established global distribution channels," Mr. Fernandes added. "Over time, as we integrate VideoIQ's technology into the Avigilon system, we will expand our end-to-end high-definition surveillance solutions to include robust analytics capabilities, giving end users the ability to prevent crime proactively and more effectively analyze large amounts of data. "
GMP Securities LP acted as the exclusive financial advisor to Avigilon on the transaction, and Raymond James & Associates, Inc. acted as the exclusive financial advisor to VideoIQ on the transaction. About Avigilon
Avigilon (TSX: AVO) is defining the future of protection through innovative high-definition surveillance solutions. Delivering the world's best image quality, our industry-leading HD network video management software and megapixel cameras are reinventing surveillance. Information about Avigilon can be found at avigilon.com . Forward Looking Statements
Certain statements contained in this news release, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws, including statements related to the closing of the acquisition of VideoIQ and anticipated financial performance. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, we have made numerous assumptions. Although our management believes that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that any forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks, uncertainties and other factors include, among other things those risks identified in Avigilon's prospectus filed on SEDAR at www.sedar.com . Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements or information. Avigilon undertakes no obligation to reissue or update any forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement. SOURCE: Avigilon Corporation


Avigilon Signs Definitive Agreement to Acquire Video Analytics Company VideoIQ

Howard Solomon - December 31, 2013
A Vancouver maker of digital video surveillance systems has closed out the year buying a video analytics firm. Avigilon Corp. said Tuesday it has signed a deal to buy Massachusetts-based VideoIQ for $32 million. The deal is expected to close early next year. VideoIQ says its proprietary technology includes live detection, event verification and instant notification of video streams. The company also says its software can learn and adapt. Its products include the Rialto 14 appliance, a four-channel box which plugs into any IP surveillance system to add analytics, the R-series 1U rack storage device for IP or analogue systems, the ICVR Encoder for remote sites as well as HD cameras. “VideoIQ’s analytics solution complements Avigilon’s innovative line of products,” Avigilon CEO Alexander Fernandes said in a statement. “The acquisition will give us sophisticated, commercially proven analytics technology supported by one of the leading analytics development teams in the industry. “We believe there is an opportunity to increase the sales of both VideoIQ and Avigilon surveillance systems in the near term by bringing VideoIQ’s existing products into our established global distribution channels,” Fernandes added. “Over time, as we integrate VideoIQ’s technology into the Avigilon system, we will expand our end-to-end high-definition surveillance solutions to include robust analytics capabilities, giving end users the ability to prevent crime proactively and more effectively analyze large amounts of data.”
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VideoIQ has a staff of 30. Customers include Alberta Health Services, which uses a system in a health clinic inside a shopping mall where it keeps an eye on late-working staff as they go into the parking lot. Other customers include school boards and a car dealership. Publicly-traded Avigilon [ TSX: AVO ] raised $69 million in November through issuing new shares. The same month it also launched a new partner program. For the fiscal quarter that ended Sept. 30 Avigilon reported net income of $8.6 million on revenue of $51.1 million in revenue, just over double what it pulled in for the same period in 2012. Related Download
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Vancouver video surveillance firm buys analytics provider

Vancouver-headquartered Avigilon today announced it has signed a definitive agreement to acquire the video analytics company VideoIQ for $32 million with the transaction closing in early 2014. Avigilon is a leader in high-definition (HD) surveillance solutions and recently celebrated their IPO's two year anniversary . Founded in 2006, VideoIQ has grown to become a leader in real-time intelligent video analytics solutions for security and business intelligence applications. VideoIQ has a developed portfolio of video analytics intellectual property, with 23 patents granted or pending, trade secrets and know-how. VideoIQ's proprietary technology includes live detection, event verification and instant notification, and self-learning capabilities. VideoIQ has approximately 30 employees and a diversified, blue-chip customer base in multiple industries. "VideoIQ's analytics solution complements Avigilon's innovative line of products," said Alexander Fernandes, president and CEO of Avigilon. "The acquisition will give us sophisticated, commercially proven analytics technology supported by one of the leading analytics development teams in the industry. VideoIQ is transforming the future of intelligent surveillance and I am pleased to welcome the team to Avigilon. "
Company:
Location:
Vancouver, British Columbia, Canada
Avigilon (TSX: AVO) is defining the future of protection through innovative high-definition surveillance solutions. Delivering the world’s best image quality, Avigilon’s industry-leading HD network video management software and the broadest range of megapixel cameras are reinventing surveillance. Offering customers in more than 80 countries a customizable end-to-end, scalable, open solution to... more
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Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information.The Techvibes Newsdesk covers a broad beat and publishes general news stories.If you have a story you would like covered, email... more
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Avigilon Makes $32 Million Acquisition to Close Banner Year - Techvibes.com

FLIR Systems designs, manufactures, and markets sensor systems that enhance perception and awareness. Its advanced thermal imaging and threat detection systems are used for a variety of imaging, thermography, and security applications.On May 14th, 2021, FLIR Systems was acquired by Teledyne at a valuation of $8000M.

FLIR Systems

FLIR and VideoIQ Join Forces For New Site Protection Solution - VideoIQ

ObjectVideo offers intelligent surveillance systems based on advanced machine vision. ObjectVideo is a technology and solutions company specializing in video content analysis. ObjectVideo continues to advance the science of intelligent video with ongoing research and development in areas such as intelligent tagging of consumer and commercial video, machine learning, and mobile video intelligence.

ObjectVideo

Vidsys provides Physical Security Information Management (PSIM) and Converged Security and Information Management (CSIM) software platforms. The platform collects, correlates and converts vast amounts of data into information based on the organization's risk policy, standards and compliance requirements.On December 9, 2020 Vidsys was acquired by ARES Security. The terms of the transaction were not disclosed.

VidSys

VideoIQ

Accomplice

Healthe

Wright Line

A123 Systems

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VideoIQ aims to offer advanced video analytics and intelligent video surveillance. Powered by 1080p high-definition self-calibrating analytics, VideoIQ's iCVR cameras and encoders deliver real-time threat detection, reduce network traffic and eliminate the need for central servers.

Date	Round	Amount	Investors	Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.	Revenue	Sources
12/31/2013	Acquired		Avigilon	$99M	0 FY undefined	1
9/21/2013	Debt	$99M	Subscribe to see more		0 FY undefined	10
1/10/2012	Series C - II	$99M	Subscribe to see more		0 FY undefined	10
9/12/2011	Series C	$99M	Subscribe to see more		0 FY undefined	0
1/12/2010	Series B - II	$99M	Subscribe to see more		0 FY undefined	0

Date	12/31/2013	9/21/2013	1/10/2012	9/12/2011	1/12/2010
Round	Acquired	Debt	Series C - II	Series C	Series B - II
Amount		$99M	$99M	$99M	$99M
Investors	Avigilon	Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Valuation	$99M
Revenue	0 FY undefined	0 FY undefined	0 FY undefined	0 FY undefined	0 FY undefined
Sources	1	10	10	0	0

Round	Acquired	Series B	Series A
Funding Date	$99M	$99M	$99M
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Post-Money Valuation	$99M
Amount Raised		$99M	$99M
Shares Authorized
Issuance Price
Dividend Rate
Liquidation Preferences
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General Voting	$99M	$99M	$99M
Board Voting	$99M	$99M	$99M
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Round	Funding Date	Pre-Money Valuation	Post-Money Valuation	Amount Raised	Shares Authorized	Issuance Price	Dividend Rate	Liquidation Preferences	Liquidation Price	Participation	Conversion Price	Anti Dilution	General Voting	Board Voting	Par Value
Acquired	$99M		$99M										$99M	$99M
Series B	$99M			$99M									$99M	$99M
Series A	$99M			$99M									$99M	$99M

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VideoIQ Funding, VideoIQ Valuation & VideoIQ Revenue

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