OpenEye, a provider of cloud-managed video surveillance solutions for the commercial market, received a majority-stake investment from Alarm.com (Nasdaq: ALRM).
The amount of the deal was not disclosed.
The combination of OpenEye and Alarm.com expertise will provide a comprehensive suite of interactive cloud-based services spanning video, access control, intrusion and automation for domestic and international commercial enterprises of all sizes.
With the acquisition, OpenEye will be a subsidiary of Alarm.com. The company will continue operations under the OpenEye brand and be led by the existing management team.
Alarm.com intends to further invest in OpenEye’s growth and expand its headquarters presence in Liberty Lake, Wash.
Founded in 1999 and led by Rick Sheppard, CEO, OpenEye is a provider of cloud-managed solutions for video security, business intelligence, and loss prevention. Its open cloud platform combines and analyzes event data from video, alarm systems, access control, sales transactions, central stations, and IoT devices. The company’s professional recording hardware and cloud-managed solutions are available globally through a trusted network of certified dealers.
They are currently utilized at over 14,000 business locations in the U.S. and Canada.
Led by Steve Trundle, president and CEO, Alarm.com is a platform for the intelligently connected property, which integrates with a growing variety of Internet of Things (IoT) devices through apps and interfaces. Its security, video, access control, intelligent automation, energy management, and wellness solutions are available through a network of thousands of professional service providers in North America and around the globe.
FinSMEs
22/10/2019