TYSONS, Va. — Alarm.com (NASDAQ: ALRM) has acquired ObjectVideo, a provider of intelligent video software, including its products, technology portfolio and personnel. Terms of the deal were not disclosed.
The business will be called ObjectVideo Labs. Alarm.com’s announcement on Monday did not provide details about what products or technology it had purchased from ObjectVideo.
Reston, Va.-based ObjectVideo develops video analytics software for automated security surveillance systems. Incorporating the company’s work “into the sophistication and scale of the Alarm.com platform will yield exciting opportunities for innovative new features and applications, and can drive Alarm.com into a leadership position in the emerging fields of video analytics and computer vision,” says ObjectVideo President Fernandez.
ObjectVideo was founded in 1998 by scientists and program managers from the Defense Advanced Research Projects Agency. Its work has been widely used by the U.S. defense and intelligence communities, according to a news release. In 2014, the company sold its intellectual property and patent licensing program to Avigilon Corp. for $80.3 million.
“As video applications grow rapidly in both the residential and commercial spaces, this acquisition will reinforce our ability to continue to lead in the development of proactive, next generation connected home and business solutions,” says Jeff Bedell, Alarm.com’s chief strategy and innovation officer.
The ObjectVideo acquisition follows Alarm.com’s $148.5 million acquisition of two business units from IControl Networks.
FOR ALL THE LATEST M&A NEWS, GO HERE.