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Nice extends global presence
with Fibaro acquisition
Costar acquires Arecont Vision assets
Oderzo, Italy and Poznan, Poland
Los Angeles, Ca (USA)
Nice continues along its
path of international
growth and expands in
the Smart Home sector
acquiring Fibaro, a lead-
ing brand in the field.
Founded in 2010 with headquar-
ters in Poznan, Poland, in just a
few years Fibaro has established
itself on 6 continents and in over
100 countries as one of the most
advanced wireless systems for the
Smart Home, designing and pro-
ducing devices with Z-Wave and
Homekit protocols in its facilities
and research centres, with a view
to utmost simplicity in installa-
tion, plug & play, the possibility
of remote access and compatibility
with third-party systems such as
Apple Homekit, Z-Wave, Google
Assistant, Amazon Alexa and Ap-
ple's Siri.
Fibaro's competences will
expand the Nice offering in the
area of home automation systems,
to turn the vision of a completely
connected home into reality, eve-
rywhere in the world. This will be
possible thanks to the complemen-
tary offers of the two companies,
which have in common the
international strategy, the design
thinking approach, the constant
push towards technological in-
novation and, most importantly,
the willingness of putting people
at the center stage, developing
solutions that are easy to imple-
ment and use.
Fibaro offers a complete
range of integrated Smart Home
products: from its "Home
Center" gateways, which are the
heart of the home and building
management system, to the most
advanced design awarded multi-
function sensors, which monitor
the indoor environment for factors
such as flooding, fumes and pres-
ence of CO, including sensors that
detect whether doors and windows
are open, acoustic alarms and
cameras. It also offers innovative
heat controllers that optimise the
temperature of the house and al-
low significant energy savings.
"We are pleased to announce
this important new deal for the
Group. Nice and Fibaro are
united by a drive for innovation
and digitalisation, as well as by
a shared mission: to simplify the
daily lives of people by offering an
extraordinary, simple, friendly and
secure user experience, in a domes-
tic space for maximum comfort."
commented Lauro Buoro, founder
and Chairman of Nice S.p.A.
Following the reports in May that
Arecont Vision
was executing an
asset purchase agreement with an
affiliate of Turnspire Capital Part-
ners, LLC under which Turnspire
was to acquire substantially all of
the company's assets. Arecont Vi-
sion has now confirmed that after
a more lucrative offer, reported
to be around $12 million, an
acquisition by Costar Technolo-
gies, Inc. of its assets has been ap-
proved by the bankruptcy court.
As previously announced, Are-
cont Vision initiated proceedings
under chapter 11 of the United
States Bankruptcy Code in the
District of Delaware in May, 2018
and has achieved its goal of mov-
ing through this process quickly.
After the closing of the sale,
upon emergence the assets for-
merly operated by Arecont Vision
will begin operating as Arecont
Vision Costar, LLC and be part of
Costar, a US corporation that de-
signs, develops, manufactures, and
distributes a full range of proven
products for the video surveillance
and machine vision markets.
"Costar's family of companies,
composed of CohuHD Costar,
Costar Video Systems, Innotech,
and IVS Imaging, is a strategic
fit for Arecont Vision providing
synergies that can be leveraged to
grow our business in new market
verticals and product areas. Costar
provides resources that will enable
Arecont Vision to continue to
innovate and lead the market,"
states Raul Calderon, Chief
Operating Officer and General
Manager, Arecont Vision.
Costar's leadership, substan-
tially all of Arecont's employees
will be hired by Costar, customer
programmes and services will
continue, and investments will
be made into the development of
new, industry-leading products.
"The acquisition of the assets
of Arecont Vision expands Costar
Technologies' video surveillance
platform by strengthening our
product line," says James Pritchett,
Costar President and Chief
Executive Officer. "It supports
Costar's strategy to become a
leader in the video surveillance
industry, transitioning from a
value-added OEM product com-
pany to a manufacturing based
and design company. Along with
our other recent acquisitions, the
Arecont acquisition increases our
manufacturing and design from
approximately 50% to 75% of
our revenue."
Business PeoPle
VP of sales at Dahua usA
Irvine, Ca (USA) and
Hangzhou, China
Wayne Hurd has been ap-
pointed as the Vice President
of Sales of Dahua Technology
USA Inc. the North American
subsidiary of Zhejiang Dahua
Technology Co., Ltd.
In the new executive mana-
gement role as VP of Sales,
Hurd will be responsible for
leading the North American
sales team at a time of record
growth for the company in the
U.S. and Canada.
Wayne Hurd is an expe-
rienced veteran of the secu-
rity industry. He most recently
served as VP of Distribution
Sales for the security products
division of Flir Systems Inc.
Prior to joining Flir in 2012 as
part of a business acquisition,
he had served as Executive
VP of Sales and Marketing for
Digimerge Technologies, a
division of Lorex Technology,
offering commercial security
solutions for small to mid-sized
businesses.
Wayne was a founding mem-
ber of the Digimerge division
in 2003 and instrumental to its
growth and development.
He joined Dahua in Fe-
bruary 2018 as part of Dahua
Technology's acquisition of
Flir's Digimerge and Lorex bu-
sinesses.
Wayne Hurd.
NIce consolidates position in Home Automation with Fibaro.
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2018-08-30 14:16