Security Systems News

AUG 2017

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Visit us at ISC West In Las Vegas | April 5-7, 2017 Booth #23089 Visit us at ISC West In Las Vegas | April 5-7, 2016 Booth #23089 s EC u RI t Y s Y st EM s NEW s August 2017 suppliers 27 OnSSI secures investment We make your company more valuable. 877.725.1114 • Keep updated on our new products and features: @dmpalarms Up Your Installation Game A smart-breakthrough-technology app for technicians uses Automated Panel Programming to cut install times and save you money. With complete panel programming, instant access to documentation, troubleshooting information, zone statuses, Wi-Fi signal strength, cellular-device activation and more, techies will have a dynamic resource on hand for painless installs. By Paul Ragusa PEARL RIVER, N.Y.—OnSSI announced on July 11 the com- pletion of a $16 million private placement by Seacoast Capital, an institutional investor focused on high quality companies based in the U.S., with Imperial Capital acting as financial advisor and placement agent. "The financing we received from Seacoast Capital, a leading insti- tutional investor, recognizes the OnSSI Group's innovative video surveillance solutions and business potential," Yoav Millet, CFO, OnSSI Group, told Security Systems News in an email interview. "Seacoast Capital has a history of supporting high growth enterprises and has a great deal of experience in the security industry," Millet said. "We have never been better posi- tioned to support our global custom- ers," Gadi Piran, president and CTO, OnSSI, said in the announcement. "OnSSI and SeeTec have created a dynamic business proposition by providing leading open architecture based VMS and BVI solutions for the security and logistics markets respectively, and now with this stra- tegic investment by Seacoast, we are strongly positioned for accelerated growth through our core business and key initiatives." Seacoast will also provide OnSSI with access to additional working capital over the entire term of its investment, ensuring the com- pany can take advantage of future business initiatives on a global scale, while also providing for a conservatively structured and strong balance sheet. "We were impressed with the superiority of the technology and management's dedication and focus on innovation and customer ser- vice," Timothy Fay, partner, Seacoast Capital, said in the announcement. "The OnSSI Group now has additional resources to expand the company and build on its industry leading VMS technologies," Millet said. "The financing also positions us to ensure that our customers will continue to benefit from the highest level of product innovation, service and support. Additionally, it allows us to expand our cloud-based solutions program, Business Video Intelligence initiatives and appli- ance-based products. In parallel, we will be accelerating our marketing efforts, serving the needs of clients in key vertical segments globally," John E. Mack III, executive vice president and co-head of invest- ment banking at Imperial Capital, said in the announcement, "OnSSI's marquee customer base and prospec- tive customers will benefit from the launch of new and innovative solutions that will come to market on an expedited timeline now with Seacoast's financial backing." SSN Seacoast's first investment in the company will be used to leverage OnSSI's "innovative technologies and reputation" in large scale VMS to extend their reach into the middle market with an easy to install appli- ance and to expand the Business Video Intelligence (BVI) business of its affiliate, SeeTec GbmH, according to the company. Canon strong trend at the moment moving toward 'video as a service' and being able to scale up global solutions in a very distributed manner with the cloud infrastructure on the back end as well as providing analytics and more business insights and security on top of that." As a spin-off from an already established business like Milestone, "we want to build out a complete global infra- structure for cloud-enabled solutions," Nordenlund Friis said. "The next phase is launch- ing an early adopter program with key enterprise customers that consider cloud as a way forward for their security and business insight models." Key verticals that are more "cloud ready," he said, include retail, hospitality, transporta- tion and law enforcement, as well as the mobile-enabled IoT space. "We see a big demand in all three regions right now but definitely North America is going to be a priority for us." SSN Continued from page 1

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