Costar Technologies to acquire Arecont Vision

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Wednesday, July 11, 2018

LOS ANGELES—Arecont Vision, an IP camera and video solution provider which filed for Chapter 11 earlier this year, announced yesterday that an acquisition by Costar Technologies was approved by the bankruptcy court and is expected to close on July 13.

After the closing of the sale, upon emergence the assets formerly operated by Arecont Vision will begin operating as Arecont Vision Costar, LLC and be part of Costar, a U.S. corporation that designs, develops, manufactures, and distributes a full range of proven products for the video surveillance and machine vision markets.

“The acquisition of the assets of Arecont Vision expands Costar Technologies’ video surveillance platform by strengthening our product line,” James Pritchett, Costar president and chief executive officer, said in a prepared statement. “It supports Costar’s strategy to become a leader in the video surveillance industry, transitioning from a value-added OEM product company to a manufacturing based and design company. Along with our other recent acquisitions, the Arecont acquisition increases our manufacturing and design from approximately 50% to 75% of our revenue.”

Arecont Vision has been operating under normal business conditions throughout the bankruptcy process, did not experience any layoffs, and continued the introduction of its new Contera IP cameras, video management system, web services, and cloud-managed recorders, the company noted in its announcement. Under Costar’s leadership, substantially all of Arecont’s employees will be hired by Costar, customer programs and services will continue, and investments will be made into the development of new products, Arecont said.

“Costar’s family of companies, composed of CohuHD Costar, Costar Video Systems, Innotech, and IVS Imaging, is a great strategic fit for Arecont Vision providing synergies that can be leveraged to grow our business in new market verticals and product areas.  Costar provides resources that will enable Arecont Vision to continue to innovate and lead the market,” Raul Calderon, COO and general manager, Arecont Vision, said in the announcement. “I am proud of our team, and we are grateful for the support, patience, and continued commitment of our employees, suppliers and customers, as we look forward to becoming a new Costar business.”

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