L-3 counts pyramid vision technology as one of its own
PRINCETON, N.J. - Sticking to a business model of developing and commercializing new technologies, Sarnoff Corp. announced the sale of its video surveillance software products group to L-3 Communications. Terms of the deal, including price and if any employees are involved, were not disclosed.
The security applications were developed and produced by Sarnoff and marketed through its Arlington, Va.-based Pyramid Vision subsidiary. The surveillance products include VisionAlert, Hawk and Video Flashlight.
Ã¢â‚¬Å“We were interested in this technology even before it became an industry that there was a lot of interest in,Ã¢â‚¬Â according to Vince Endres, vice president of ventures and marketing for Sarnoff. The company has spent more than 10 years developing the applications.
Endres said Sarnoff Corp. reached a stage where it either had to invest more resources in the products or find a suitor that would. Interest in video surveillance software is high, he said, and Sarnoff Corp. is more focused on contract development than bringing products to market.
Ã¢â‚¬Å“We believe the timing was right to get major market penetration that a company like L-3 can,Ã¢â‚¬Â Endres said.
L-3 Communications, based in New York, provides secure communications systems as well as intelligent surveillance and reconnaissance applications. The company targets defense and homeland security markets.
As SarnoffÃ¢â‚¬â„¢s marketing arm, Pyramid Vision sells security and surveillance products for use in large installations, including locations such as public works buildings and commercial structures, where a high-number of video cameras are present.
Pyramid Vision will continue to market existing products within its portfolio for the aerial reconnaissance, intelligence and law enforcement markets. Applications that remain after the sale include Video Detective, Acadia and Jam.
Sarnoff, which was founded as RCA Laboratories in 1942, is a research and development organization responsible for innovations such as color television and liquid-crystal display.