Tyco buys analytics maker IntelliVid
PEMBROKE, Bermuda--Tyco International this week announced the acquisition of the assets of IntelliVid, a developer of retail-focused intelligent video analysis solutions to add to its American Dynamics portfolio of video security technologies. Since 2003, privately-held IntelliVid has provided its retail customers with business intelligence applications that utilize video analytics for loss prevention, customer safety, compliance, and merchandising.
"We are continuing to invest in our American Dynamics brand of video solutions through R&D and acquisitions. We are pleased to add IntelliVid's advanced video analytics, which should significantly improve our offering to key markets, including retail," said Don Lyman, vice president and general manager of Tyco International's access control and video systems business unit, in a prepared statement.
The acquired assets include IntelliVid's complete line of Video Investigator solutions, Point of Sale (POS) Accelerators, and Computer Aided Tracking software. The new solutions will leverage American Dynamics VideoEdge technologies, allowing recorded video to be used for real-time and forensic theft prevention and store intelligence solutions. Future releases will include integration with Intellex digital video management systems.
The buy is part of a trend of larger legacy manufacturers purchasing analytics firms. Siemens purchased VistaScape in late 2006. Earlier this year, ICx bought PureTech Systems.
"IntelliVid's patented technology complements our existing portfolio of high-performing video solutions and allows us to quickly deliver effective video analysis solutions to the market," said Chuck Hutzler, vice president of R&D for American Dynamics solutions, in a statement. "Our retail customers should realize significant return on investment by transforming video technology into useful operational information."
"We are thrilled to be joining the American Dynamics video systems team and to immediately contribute to the company's goal of providing leading edge video technologies," said Patrick Sobalvarro, president & CEO of IntelliVid, in a statement.
Financial terms of the acquisition were not announced.