Cloudastructure Acquires Smart Parking Company Visionful
The acquisition adds a new license plate recognition and analytic component to Cloudastructure’s Cloud-based video surveillance platform.
SAN FRANCISCO — Cloudastructure, a provider of Cloud-controlled video surveillance systems, announces it has signed an agreement to purchase smart parking company Visionful with closing expected by the end of January.
The acquisition adds a new license plate recognition and analytic component to Cloudastructure’s expanding Cloud-based video surveillance platform.
Visionful offers a smart parking solution for transit providers, as well as commercial companies, hospitals, airports, universities and municipalities who are looking to better understand their parking usage and manage parking efficiency.
The solution provides a real-time dashboard of parking usage based on license plate recognition (LPR) and database mapping. Using this dashboard, parking managers can bill more accurately for use as well as determine future parking needs.
In addition, the solution informs drivers as to which parking deck has available space, reducing the need for endless parking spot searching and parking abandonment rates. Visionful’s real-time reporting dashboard includes video analytics of:
- Customer usage
- Occupancy rates of change
- Spot availability
- License plate recognition
With Cloudastructure’s security platform, Visionful’s advanced LPR features can be integrated with public safety API’s to alert security personnel to the presence of bad actors on their campuses. The feature provides a unique and vital differentiator between Cloudastructure’s video surveillance platform and that of competitors, according to the company.
Cloudastructure CEO Rick Bentley will oversee the transition of Visionful’s technology while CTO Gregory Rayzman will handle the integration.
Bentley comments, “Visionful’s smart parking solution is a leading technology in the parking management space and we are excited to add it to Cloudastructure’s award-winning platform. We want to extend a hearty welcome to Visionful clients and partners as well, and assure them of a swift and seamless transition to Cloudastructure. This acquisition enhances our award-winning AI-based security platform for our customers, and is a major step in developing our vision for a ground-breaking, comprehensive smart cities platform.”
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!