VideoIQ Inc. announces the spinout of its business from GE Security and the formation of an independent company. Under the terms of the deal, VideoIQ acquired the core products and patent-pending technology associated with the video analytics business at GE Security.
VideoIQ says it has introduced its first product, the VideoIQ 800HD, since the company’s spinout. Now in its third generation, the 800HD includes enhancements over earlier models such as new networking and management capabilities for remote monitoring applications.
VideoIQ says its systems have logged more than 100 million hours of real-world video analysis, while its products have been working for years to provide perimeter protection in and around chemical plants, water facilities, electrical utilities, border crossings and corporate campuses.
“While VideoIQ is already proven in the marketplace, we are only at the beginning of what’s possible,” says Scott Schnell, president and CEO, VideoIQ. “With the unique insight of our experienced management and technical teams, we have a huge market opportunity before us. We plan to make intelligence part of every surveillance system.”
The company’s management team has combined expertise in the IT and physical security markets. In addition to Schnell, who has held executive and senior positions at RSA Security, Photonics Networks, Apple Computer, McKinsey and Chevron, the team also include: Mahesh Saptharishi, Ph.D., chief scientist, the inventor of VideoIQ’s patent-pending technology; Doug Marman, CTO and vice president products, and a former CTO of GE Security; Steve Lefkowitz, vice president of sales and OEM development, a former general manager of GE Security’s camera business, and founder and CEO of CCTV Inc.; Mike Gardner, vice president operations and business development, who was the architect of the spinout of VideoIQ from GE, where he originally commercialized the VideoIQ technology.
