BRADENTON, Fla. — GE Security Inc. has acquired CoVi Technologies’ video systems technology and intellectual property assets to bolster its existing video solutions.
CoVi is an IP video systems provider headquartered in Austin, Texas. The company’s engineering, technical support and product management employees will also join GE Security. The addition is expected to complement GE Security’s video solutions offerings and growth strategy, and strengthen the company’s delivery of IP video hardware and software solutions.
“The $6 billion-plus global video industry — with its 11-percent compound annual growth rate — is a crucial component of our strategy to be the fastest growing, global security and life safety product company,” says Dean Seavers, president and CEO, GE Security. “CoVi’s technology and experience are closely aligned with our video platform strategy and will be a strong complement to our expanding video solutions offerings.”
The acquired team will continue to be located in Austin and will be under the leadership of Tom Cashman, general manager of GE Security’s video product management.