Infinova ready to buy?
Camera manufacturer Infinova, which went public in December with a $300 million IPO in China, announced today that it’s hired someone to lead the acquisition strategy: Stephen G. Cannellos. Cannellos, whose title is VP of strategic business development has worked at Assa Abloy, Tyco and Software House and GE. According to the release, he’s shown “success at three venture-backed technology start-ups.”
I inquired about those start-ups and heard heard back from Cannellos via email. The start-ups he was involved with were: "Apollo computer (Computers, Network, Operating systems),Voicetek Corporation (Telecom), Cognition (Mechanical Computer Aided Engineering systems).I did my own start-up, EXOS Systems, in the Integrated GPS and Access Control system market after leaving Tyco. That was with angel investors and my own."
Infinova CEO Jeffrey Liu told me in December that the company had just started looking for acquisitions but that “another small manufacturer would be likely.”
From the release: “We are starting to look for suitable technology companies to form partnerships and alliances that will advance Infinova solutions and acquisition of complementary companies to grow our market share. We look forward to Stephan helping us accomplish this,” Liu said in a prepared statement.
Infinova has 290 engineers. Its goal is to “enable end-users to extend the life of their existing analog equipment by having it co-exist with their new IP video equipment, Infinova provides core equipment for video control rooms, megapixel, IP and analog surveillance cameras, specialized cameras, fiber optic communications products and customized systems.”