Ageny Vi, the Israeli video analytics company, has been acquired by the Swedish video analytics and security systems company Irisity AB for $67.5 million.
Founded in 2003, Agent Video Intelligence (Agent Vi) is a provider of open architecture, video analytics solutions. Agent Vi’s video analytics offering includes software products for on-premise installations as well as cloud-based SaaS, with capabilities ranging from real-time video analysis and alerts to video search and business intelligence. The solutions are fully integrated with a variety of cameras, encoders, video management systems and alarm automation software.
Agent Vi’s solutions allow users to achieve optimal value from their video surveillance networks by automating video analysis to detect and alert for events of interest, expedite search in recorded video and extract statistical data from the footage captured by surveillance cameras.
Agent Vi has a large number of resellers and thousands of deployments in more than 90 countries, as well as partnership deals with security giants including Securitas. The total revenue 2020 was $6.1 million, with EBITDA $ -0.4 million and net profit $0.3 million.
“We are extremely proud of and excited about the prospects of the combined Irisity-Agent Vi future, and we look forward to our joint journey with expanded geographical coverage and stronger power of execution”, says Itsik Kattan, CEO at Agent Vi.
“This acquisition is in line with our strategy and ambition building a market leader. We believe both companies complement each other in all important dimensions, management, product, and market as well as technology. Together we have an even stronger position serving an accelerating international demand for high precision analytics, continuously building shareholder value”, says Lennart Svantesson, Irisity Chairman.
“The combination of Irisity and AgentVi will create an AI-enabled video analytics powerhouse, with unmatched capabilities and reach. I’m proud to be joining forces with such an accomplished and experienced team led by Irisity’s CEO, Marcus Backlund, and its Chairman, Lennart Svantesson. I expect that our customers and shareholders will benefit greatly from this acquisition.”, says Dorian Barak, Agent Vi Chairman.