VICTORIAVILLE, Quebec – Surveillance solutions provider VOSKER recently announced the acquisition of artificial intelligence-powered autonomous intelligent surveillance solutions provider Reconeyez, which boasts large enterprise (B2B) and international government agency (B2G) customers.
This transaction “marks an important milestone in VOSKER’s global expansion and provides the foundation for its global B2B channel strategy,” according to the joint announcement.
With this acquisition, VOSKER “solidifies its leadership in the remote area monitoring market with a dual-use, vertically integrated, artificial intelligence-enabled platform for large enterprise-grade performance,” the announcement says.
Reconeyez and its Defendec brand are deployed by businesses and government agencies in more than 60 countries globally. Reconeyez’ mission “Be anywhere, detect anything” “aligns with VOSKER’s vision of delivering peace of mind through industry‑leading technology,” according to the joint announcement.
Why Did Vosker Acquire Reconeyez?
“This acquisition will further accelerate VOSKER’s strategic geographical and end-market expansion,” says Jimmy Angers, co-founder, president and CEO of VOSKER, in the joint announcement. “By combining our proven track record of continuous growth in remote-area monitoring with Reconeyez’ deep expertise in industrial surveillance and public safety, we are creating a powerful alliance to meet evolving global security challenges.”
Scotiabank acted as exclusive financial advisor to VOSKER in connection with this transaction.
In addition to the Reconeyez acquisition, VOSKER also closed $200 million in senior debt financing, with National Bank of Canada acting as sole bookrunner, co-lead arranger and administrative agent and with the support of Scotiabank, acting as co-lead arranger, as well as Export Development Canada, TD Bank Group and Investissement Québec.
This financing round “strengthens VOSKERS’s long-term growth by funding acquisitions, tech innovations and operational scale-up in priority markets,” according to the joint announcement.
