Security Systems News

JAN 2019

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briefs www.securitysystemsnews.com january 2019 SEC ur IT y S y STEMS n EWS suppliers 20 ONVIF celebrates 10th anniversary at annual membership meeting SAN RAMON, Calif.—ONVIF, a global standardization initiative for IP-based physical security products, celebrated its 10th anniversary at its annual mem- bership meeting in early November, reflecting on its past while looking to the future. Attendees heard presentations on the final release of Profile T in 2018, an advancement that represents how ONVIF keeps pace with technological advancements that affect product devel- opment and interoperability between IP-based physical security products. In an acknowledgement of its 10th anniversary, ONVIF chairman Per Björkdahl highlighted the forum's achievements over the past decade, including an overview of the six ONVIF profiles, with emphasis on the newly released Profile T for advanced video streaming. Collectively, the profiles pro- vide support for the more than 10,000 conformant products that are increas- ingly included in various bid and speci- fication processes in projects around the world, he said. Björkdahl also cited the continued involvement of ONVIF as part of the work of the International Electrotechnical Commission's TC79 for international standardization. ONVIF also recognized the contribu- tions of four individuals from various ONVIF technical committees for their work on different profiles and commit- tees. Fredrik Svensson of Axis and Dora Han of Hikvision were recipients of the ONVIF award, which acknowledges individuals and companies who have made significant contributions to ONVIF. As chairman of the Profile T Working Group, Svensson was a leading force in the development and successful final release of the Profile T specification. Han received the award for her extensions to the specification, and for supporting the development of other members' exten- sions to the specification. One of two 2018 ONVIF Distinguished Service Awards was given to Baldvin Gislason Bern of Axis for his role in developing and proofing the evolu- tion concept as chair of the Technical Services Device Test Tool Evolution. Joining him in receiving this award is Dr. Hasan Timucin Ozdemir of Panasonic, who served as chairman from 2009- 2018 of the ONVIF Video Enhancement Working Group, which is responsible for formulating and prototyping new fea- tures for the ONVIF specification. "All of our honorees have shown their significant and long-term commitment to the organization as a whole, and in turn have directly and positively impacted the work of ONVIF," said Björkdahl. "The success of our organization would not be possible without the innovative con- tributions and hard work of our mem- bers, and for that, we say thank you." JCI to sell Power Solutions business for $13.2b UTC seperates into three of sales, executive vice presi- dent, to his current role as president of Galaxy Control Systems. The Galaxy Control Systems portfolio is centered on the com- pany's System Galaxy v11.02 and Cloud Concierge access control platforms, which accommodate the latest reader technologies and technology trends, as well as holistic VMS integration. The versatile offering provides resellers and users with the unique ability to implement the access control solution that best fits their specific needs and budget. Caruthers told Security Systems News that some of his short-term goals for the company include bringing both the on-premises and cloud solutions together to provide one platform. "Early on, our cloud develop- ment team worked to get the product up and running so I had two engineering efforts—our on-premises team and our cloud team," he explained. "What we are doing now is merging the two together, so our focus is to let everyone know that the Galaxy product can be used on premises and in the cloud. We are basically building a platform around the philosophy that the only thing you need to decide is where your database is going to reside: Is it going to reside on a server on site, or is it going to reside in a hosted cloud environment, or in a hybrid set-up?" He continued, "So all of the tools, the web interfaces, the client stations—every bit of the software behind that—works simultaneously and seamlessly with both. So we are moving those two platforms to one starting in 2019 and hope to have our soft- ware in at least a beta format by ISC West, along with a couple of new mobile apps." A key long-term effort is "strengthening our core intelli- gence inside our technology group to reflect that next generation of developers that is going to take us to the next 20 years," said Caruthers, who noted that more and more clients are embracing cloud-based solutions. "While SMB companies are certainly embracing cloud, some of our bigger corporate clients are adopting cloud for all of their applications," he noted. "And many are doing it for cost savings, especially when considering the continual investments in refresh- ing servers and hardware that are required with on premises data centers or server rooms." SSN United Technologies is a pivotal moment in our history and will best position each independent company to drive sustained growth, lead its industry in innovation and customer focus, and maximize value creation," United Technologies chair- man and CEO Gregory Hayes said in the announcement. "Our products make modern life possible for billions of people. I'm confident that each company will continue our proud history of performance, excellence and innovation while building an even brighter future. As standalone com- panies, United Technologies, Otis and Carrier will be ready to solve our customers' biggest challenges, provide reward- ing career opportunities, and contribute positively to com- munities around the world." According to the announce- ment, Otis and Carrier are expected to spin-off of UTC, both being subject to the sat- isfaction of customary condi- tions, "including final approval by UTC's Board of Directors, receipt of a tax opinion from counsel, the filing and effec- tiveness of a Form 10 reg- istration statement with the U.S. Securities and Exchange Commission and satisfactory completion of financing." Hayes will oversee the tran- sition and will continue in his current role as UTC Chairman and CEO following the separa- tion. UTC expects the separa- tion to be completed in 2020, with separation activities occur- ring within the next 18 to 24 months. "There can be no assurances regarding the ulti- mate timing of the separation or that the separation will be completed," the announce- ment noted. Carrier provides "HVAC, refrigeration, fire, security and building automation tech- nologies with 2017 sales of $17.8 billion," according to the recent announcement. The company's portfolio will include the Carrier, Kidde, Edwards, LenelS2 and Automated Logic brands. Following this move, UTC will primarily consist of Pratt & Whitney and Collins Aerospace. "Combined sales of the two businesses totaled $39.0 billion in 2017 on a pro forma basis," the company said in its announcement. SSN Galaxy's president By SSN Staff MILWAUKEE—Johnson Controls International announced a defini- tive agreement to sell its Power Solutions business to Brookfield Business Partners L.P. in a cash transaction valued at $13.2 billion. "Today's announcement marks a significant milestone in the ongoing transformation of the Johnson Controls portfolio," JCI chairman and chief execu- tive officer George Oliver said in the announcement. "The sale of our Power Solutions business will create value for investors by streamlining our portfolio and giving us increased financial flexibility to strengthen our balance sheet, return capital to shareholders and create option- ality in our Buildings business. This focused portfolio will allow us to capitalize on secular growth trends and to deliver strong financial performance through improved free cash flow conver- sion, lower capital intensity and continued margin expansion." Net cash proceeds are expect- ed to be $11.4 billion after tax and transaction-related expenses. JCI expects to deploy $3.0- to $3.5 billion of proceeds toward debt pay-down and retain an investment grade credit rating. The remaining proceeds will be available to return to sharehold- ers, with more specific details to be announced around the close of the transaction. " Wi t h t h i s t r a n s a c t i o n , Johnson Controls becomes a pure-play building technolo- gies and solutions provider that is better positioned to lead the integration and evolution of the connected building and to capture strategic opportunities in the HVAC industry," Oliver said. "I would like to thank the Power Solutions team for their significant contributions over the years and their dedication throughout the strategic review process." Johnson Controls' Power Solutions business, and 15,000 Power Solutions employees cre- ate, manufacture and distribute "the most advanced battery technologies for virtually every type of vehicle. These technolo- gies deliver uniquely sustainable, next-generation performance," JCI said. In fiscal 2018, Power Solutions generated $8.0 billion in revenue and $1.68 billion in earnings before interest, taxes, depre- ciation and amortization. The transaction price of $13.2 billion represents a multiple of 7.9x trailing twelve month EBITDA, according to JCI. The transaction is expected to close by June 30, 2019, subject to customary closing conditions and required regulatory approv- als. Power Solution's operating results will be reported in dis- continued operations beginning in the first fiscal quarter of 2019. Centerview Partners and Barclays served as financial advi- sors to Johnson Controls, and Simpson Thacher served as legal advisors. SSN Continued from page 1 Continued from page 1 "With this transaction, Johnson Controls becomes a pure-play building technologies and solutions provider that is better positioned to lead the integration and evolution of the connected building and to capture strategic opportunities in the HVAC industry." —George Oliver, j CI

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