Arecont Vision®, the Platinum Winner in the 2017 ‘ASTORS’ Awards Program for Best IP Video Surveillance Solution, and a competitor in the 2018 ‘ASTORS’ Homeland Security Awards Program, has announced that the acquisition by Costar Technologies, Inc. of its assets has been approved.
After the closing of the sale, upon emergence the assets formerly operated by Arecont Vision will begin operating as Arecont Vision Costar, LLC and be part of Costar, a US corporation that designs, develops, manufactures, and distributes a full range of proven products for the video surveillance and machine vision markets.
Costar also develops, designs and distributes industrial vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting faults in the production process.
“Costar’s family of companies, composed of CohuHD Costar, Costar Video Systems, Innotech, and IVS Imaging, is a great strategic fit for Arecont Vision providing synergies that can be leveraged to grow our business in new market verticals and product areas,” explained Raul Calderon, Chief Operating Officer and General Manager, Arecont Vision.
“Costar provides resources that will enable Arecont Vision to continue to innovate and lead the market.”
“I am proud of our team, and we are grateful for the support, patience, and continued commitment of our employees, suppliers and customers, as we look forward to becoming a new Costar business.”
Arecont Vision has been successfully operating under normal business conditions, did not experience any layoffs, and continued the introduction of its new Contera IP cameras, video management system, web services, and cloud managed recorders.
Under Costar’s leadership, substantially all of Arecont’s employees will be hired by Costar, customer programs and services will continue, and investments will be made into the development of new, industry-leading products.
“The acquisition of the assets of Arecont Vision expands Costar Technologies’ video surveillance platform by strengthening our product line,” added James Pritchett, Costar President and Chief Executive Officer.
“It supports Costar’s strategy to become a leader in the video surveillance industry, transitioning from a value-added OEM product company to a manufacturing based and design company.”
“Along with our other recent acquisitions, the Arecont acquisition increases our manufacturing and design from approximately 50% to 75% of our revenue.”
Court filings as well as other information related to the restructuring are available at www.omnimgt.com/arecont or by calling the restructuring information hotline, 844-378-2736 (toll free in North America) or +1-818-906-8300 (international).
Arecont Vision ‘Contera Total Solution’ in 2018 ‘ASTORS’ Homeland Security Awards Program
- Platinum ‘ASTORS’ Award Winner
- SurroundVideo Omni G3 Adjustable View Multi-Sensor Camera
- Best IP Video Surveillance Solution
AST focuses on Homeland Security and Public Safety Breaking News, the Newest Initiatives and Hottest Technologies in Physical & IT Security, essential to meeting today’s growing security challenges.
The 2018 ‘ASTORS’ Homeland Security Awards Program, is organized to recognize the most distinguished vendors of Physical, IT, Port Security, Law Enforcement, Border Security, First Responders, (Fire, EMT, Military, Support Services Vets, SBA, Medical Tech) as well as the Federal, State, County and Municipal Government Agencies – to acknowledge their outstanding efforts to ‘Keep our Nation Secure, One City at a Time.’
As an ‘ASTORS’ competitor, the Contera® Total Video Solution will be competing against the industry’s leading providers of Innovative IP Video Surveillance Solutions.
To Learn More about the ‘ASTORS’ Homeland Security Awards Program, see 2017 ‘ASTORS’ Homeland Security Award Winners Honored at ISC East.
Over 100 distinguished guests from National, State and Local Governments, and Industry Leading Corporate Executives from companies allied to Government, gathered from across North America and the Middle East to be honored from disciplines across the Security Industry in their respective fields which included:
- The Department of Homeland Security
- U.S. Customs and Border Protection
- The Department of Justice
- The Security Exchange Commission
- State and Municipal Law Enforcement Agencies
- The Royal Canadian Mounted Police
- Leaders in Private Security