Avigilon Acquires Access Control Company RedCloud
As IFSEC Global reports today, 4 June, “Avigilon has acquired Virginia-based access control company RedCloud for $17 million in a bid to take a share of a market estimated to be worth $6 billion by 2015.
Avigilon founder and CEO Alexander Fernandes said that Avigilon and RedCloud have “parallel philosophies” around technology and that the acquisition brings “new and exciting opportunities for Avigilon to participage in a larger share of the total security market.”
The founder of RedCloud, Terry Neely, is formerly the vice president of engineering at Honeywell Access Systems. He and his team built the RedCloud access control system from the ground up, and it is an open platform designed to integrate with other IT systems simply.
Neely said in a statement:
Avigilon’s innovative approach to security products makes it a perfect home for 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.
The announcement was welcomed by investors, as Avigilon’s share price rose sharply in the last two hours of trading yesterday, to finish up 6.5 percent for the day at $18.20. This is on the back of a phenomenal growth level since the company was first floated in November 2011 — the Canadian surveillance company’s stock has risen more than 300 percent in the past 18 months.
The expansion of Avigilon into access control is certainly an interesting development, part of its goal to become a $500 million (Canadian) company by 2015. In November, in an exclusive interview, Fernandes explained that this goal was “ambitious” but “definitely within reach.”
At the time, Fernandes explained that the company was keen to expand into new markets — something we took to mean geographical rather than technological.
The RedCloud platform is designed to allow organizations to manage physical security and identity management in one system, helping them to manage who is in their facilities on one platform. It's been experiencing growth in sales to large corporate and educational clients, according to Avigilon’s press statement.
By combining this with its software offering, Avigilon Control Centre, and its HD surveillance cameras, the company is likely to be able to offer integrators and end-users alike a much more complete security system”.
by the Editorial Staff
