Agent Vi has entered into an agreement for its sale to Iristy AB, a listed AI video analytics company based in Sweden, for $US67m in cash and shares of Irisity.
Irisity, founded in 2008, develops and markets video analytics software products for improved security and surveillance, and is publicly listed in the Nasdaq First North Growth market in Stockholm.
Through the acquisition and merger of the companies, they will become the leading global AI video analytics provider, offering a broad range of software and Software as a Service (SaaS) solutions for automatic analysis of surveillance footage and real-time video streams.
The companies’ products are used by customers worldwide to improve their surveillance operations by harnessing the power of the AI software to automatically detect events of interest in real-time and quickly search through recorded video, allowing quick and effective response to security and safety events.
“We are very happy in welcoming this successful team to Irisity,” said Irisity CEO, Marcus Bäcklund. “Agent Vi has built a market-leading brand and global presence, and we are impressed by both the team and the technology.”
The companies together have global operations with offices in Sweden, Israel, USA and Singapore, a network of over 1000 resellers and partnerships with dozens of leading security monitoring companies. The transaction is expected to close during Q4 2021, subject to customary closing conditions.
#sen.news
