The grainy video that an old surveillance camera produces may not just be useless in determining who just made off with the goods, it could represent the simplest and most effective way for a business to reduce costs.
High-definition video-surveillance, the kind done by Vancouver’s Avigilon, is winning more and more converts because the picture it produces is admissible in court, meaning a camera becomes more than a simple deterrent.
So what’s the next step? Analytics. On December 31st, Avigilon announced it had acquired U.S.-based video analytics company VideoIQ, for $32-million. VideoIQ’s futuristic BRAIN technology (Bootstrap Response Active Intelligence Node/Network) learns and adapts, producing a surveillance system that actually gains functionality as it goes.
Recently, we talked to Avigilon CEO Alex Fernandes about the acquisition.
Alex, Why did you acquire VideoIQ?
VideoIQ provides sophisticated, commercially proven analytics technology supported by one of the leading analytics development teams in the industry. The company’s analytics solution complements Avigilon’s innovative line of high-definition video surveillance and IT-friendly access control products.Specifically, VideoIQ is the best fit for Avigilon because the company has the strongest sales, a robust and effective technology and products with the greatest ease of installation.
How does VideoIQ’s intellectual property complement existing Avigilon products?
The integration enables us to provide end-users with an open, end-to-end security solution that includes intelligent video analytics. Adding this technology to our HD video surveillance solution enables end-users to monitor for crime proactively and more effectively analyze large amounts of data. By adding VideoIQ’s advanced technology to the Avigilon solution, our end-users will have the benefits of automated real time detection, real time alerts and post incident analysis and forensic search capability.
Could you describe a situation in which VideoIQ would be used?
VideoIQ’s video analytics technology is often used to safeguard car dealerships against auto theft and vandalism, especially after-hours. If any suspicious activity is detected in a lot, with video analytics technology security officials will receive an alert and can respond to the situation immediately, alerting the authorities if necessary. The advantage of the technology is that it is a proactive surveillance tool that enables officials to prevent crimes before they occur.
Is there demand for these products from the customers or are you anticipating demand?
We see video analytics as the next wave of technology. High-quality, effective video analytics technology is already in demand in the industry. In fact, prior to the acquisition VideoIQ and Avigilon shared some common customers.
What is your view on acquisitions? Will you look to add to your organic growth by expanding this way?
Our growth strategy to invest in brand awareness, expand our product portfolio, and add to our sales team, will remain the same. We are not actively pursuing acquisitions as part of our organic growth strategy but if opportunities that make sense for Avigilon come up we’ll definitely consider them.
Below: An introduction to how VideoIQ’s uses self-learning analytics in its video-surveillance products.