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Dean Drako acquires Cobalt AI

Dean Drako acquires Cobalt AI

Dean Drako acquires Cobalt AI

FREMONT, Calif., and AUSTIN, Texas — Dean Drako, president and CEO of Eagle Eye Networks, IC Manage, and Drako Motors, announced his acquisition of Cobalt AI (formerly Cobalt Robotics).

As Cobalt’s owner, Drako will serve as the company’s chairman, while Ken Wolff, Cobalt’s CEO, will continue leading the company. Cobalt AI will operate as an independent company with its current management team and entire staff.

Cobalt is known as a provider of AI alarm filtering, remote monitoring, and security robot solutions for enterprise. Their services, Cobalt Monitoring Intelligence and the Cobalt Command Center, deploy on a broad range of cameras, access control systems, robots, and other edge devices. Cobalt’s enterprise security automation technology combines AI with human verification to improve enterprise safety, security, and facility workflows.

As a reflection of the company’s AI leadership across multiple domains, Dean Drako has officially renamed the company from Cobalt Robotics to Cobalt AI.

“We are thrilled that Dean Drako has acquired Cobalt and will serve as chairman. Dean has invested capital and strategic insights to grow other physical security companies to unicorns and technology leaders in their space,” said Ken Wolff, CEO of Cobalt AI. “We share a mutual vision of the tremendous advantages of automation through AI with human verification. Drako’s acquisition validates our strategy to improve monitoring, response times and lower costs and also gives us the capital to deliver for our enterprise clients.”

“I searched for the company with the most powerful AI-based enterprise security automation in our physical security industry,” said Dean Drako. “AI is transforming our industry, and Cobalt’s alarm filtering and other technologies are years ahead.”

Drako continued, "The company monitoring and command center technology is a catalyst for a new era of security. They have created field-proven AI to make security and guarding tremendously more effective and efficient. Furthermore, Cobalt’s open platform strategy, which integrates with a plethora of video and access systems, is aligned with the open product strategy I believe in."

Under Drako's ownership, Cobalt AI said it will invest in further R&D and sales execution.

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