Mar 01, 2023
- Press Release
Feb 03, 2015
Company / Press Release
Osaka, Japan - Panasonic Corporation announced today that it has entered into an agreement to acquire all shares of Houston, TX-based Video Insight, Inc., a leading developer of video management software, as part of its strategy to expand business opportunities for both companies in the education market in North America. Founded in 2002, Video Insight provides enterprise-class video management solutions for security systems to over 25,000 customers in the financial, government, retail, and transportation sectors as well as 6,500 schools and campuses.
Panasonic Group has set a clear target of reaching 10 trillion yen in sales by 2018, and B2B solutions, including security systems and video surveillance, will play an important part in achieving this high growth globally.
As customer needs in the video surveillance market become more diversified, video management software with the ability to easily integrate multiple devices will become even more important. Adding Video Insight to the Panasonic Group enhances the Panasonic portfolio and broadens its reach into education.
"We're excited and honored to partner with the Panasonic Group," said Chief Executive Officer J. Robert Shaw. "We believe this partnership will help us accelerate innovation, enhance product development and allow us to provide our customers with better security solutions for years to come".
As part of the agreement, Video Insight will remain under the strong leadership of its founders, J. Robert Shaw and James Whitcomb to continue to evolve the open platform system which today supports over 2,500 camera models from over 100 manufacturers and integrates across the most popular access control platforms.
Panasonic Corporation is a worldwide leader in the development and engineering of electronic technologies and solutions for customers in residential, non-residential, mobility and personal applications. Since its founding in 1918, the company has expanded globally and now operates around 500 consolidated companies worldwide, recording consolidated net sales of 7.74 trillion yen for the year ended March 31, 2014. Committed to pursuing new value through innovation across divisional lines, the company strives to create a better life and a better world for its customers. For more information about Panasonic, please visit the company's website at http://panasonic.net/.
Video Insight, Inc., - headquartered in Houston, TX - is a leading developer of enterprise-class video management software (VMS). Founded in 2002 by two veteran technology entrepreneurs, Video Insight was established with the vision of providing powerful, user-friendly software that would run on "off-the-shelf" hardware based on IP technology. Video Insight has built a strong foundation by marketing to North American K-12 and higher education institutions. As a result, more than 6,500 schools and campuses rely on Video Insight to protect their students, teachers, and facilities. With market adoption, Video Insight has successfully assimilated its versatile, highly scalable product to government, retail, aviation and other commercial markets.
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