Axis Communications Acquires Retail Video Analytics Provider Cognimatics
The transaction marks Axis’ second this week. It acquired IP intercom provider 2N previously.
Axis Communications announced its second acquisition of the week, purchasing Cognimatics, a company that provides store optimization solutions targeting the retail sector. Earlier this week, Axis acquired 2N, a provider of IP intercom solutions.
According to the company, Friday’s addition of Cognimatics’ knowledge and technology strengthens Axis’ solution offering in the retail market segment.
“Cognimatics’ products are well-known with a successful track record in the retail sector, and complement our solutions in that market,” said Ray Mauritsson, CEO of Axis Communications. “Their commitment to developing innovative and easy-to-use products is consistent with Axis’ approach to provide the highest value solution for a range of customer needs. We are excited to be able to offer our partners and end users solutions that act as a natural complement to their existing Axis solutions.”
Cognimatics is a privately owned Swedish company that was founded in 2003. The company offers video analytics applications that can be used to provide retailers with insightful behavioral intelligence. The two companies have cooperated for several years on both engineering and sales to provide integrated solutions to mutual customers.
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