The new company is a business unit of Costar Technologies, a manufacturer of a wide array of products for the video surveillance and machine vision markets.
GLENDALE, Calif. — Arecont Vision Costar, a leading provider of IP-based megapixel cameras and video surveillance solutions, today announced its key product portfolio, business plans and executive leadership team following the initial launch of the business in July.
The new company is a business unit of Costar Technologies (OTCM: CTSI), a Coppell, Texas-based corporation that designs, develops, manufactures and distributes a wide range of products for the video surveillance and machine vision markets.
Arecont Vision Costar continues to base its headquarters, R&D, manufacturing and support facilities in Glendale, Calif., taking over the building formerly occupied by its predecessor business, Arecont Vision. The majority of employees and the executive leadership team transitioned to the new business, as did all existing products, technologies, patents, and trademarks of the original company.
“We’re very excited to have a new beginning for Arecont Vision Costar, with a great strategic fit that builds on our predecessor’s pioneering legacy of megapixel camera technology leadership, while leveraging the resources and expertise of Costar Technologies,” states Raul Calderon, president, Arecont Vision Costar. “The result is that our customers can be confident not only of our financial health and long-term future, but also in purchasing our new Arecont Vision Total Video Solution to meet their surveillance system needs.”
The Total Video Solution is composed of megapixel cameras (MegaIP and ConteraIP series), Cloud-enabled video management software (ConteraVMS and ConteraWS web services), and Cloud-managed video recorders (ConteraCMR).
Authorized security dealers and systems integrators are able to offer a complete, cyber-secure and web-enabled solution, or any of the individual product series in integration with the customer’s existing cameras, video management software or recorder platforms. ONVIF compliance and the company’s API — available through the Technology Partner Program — help to ensure the best possible integration with third-party hardware and software, , according to the company.
The original Arecont Vision was founded in 2003 and announced a reorganization under voluntary Chapter 11 on May 14. This was undertaken to clear the company of outstanding debt and to simplify the sale of the entire business in order to secure new investment, according to the company.
Costar was the winning bidder, and the transaction was completed on July 13 with the launch of Arecont Vision Costar.
“The acquisition of Arecont Vision expands the Costar Technologies’ video surveillance platform by strengthening our product line,” says James Pritchett, president and CEO, Costar Technologies. “This purchase supports Costar’s strategy to become a leader in the video surveillance industry, transitioning from a value-added OEM product company into a manufacturing and design business. Along with our other recent acquisitions, the Arecont Vision acquisition increases our manufacturing and design from approximately 50% to 75% of our revenue.”
Calderon, formerly COO and general manager of Arecont Vision, says the company will continue to develop new technologies, products and solutions to better serve its customers, partners and the industry overall. “Improvements are currently also underway in our quality assurance processes, and in improving both our sales support and technical assistance programs,” he says.
The Arecont Vision Costar management team includes Kyle Parker, vice president, Americas sales; Sanjit Bardhan, vice president, international sales; Mitch Fagundes, vice president, global strategic accounts; Brad Donaldson, vice president, product development; Jeff Whitney, vice president, marketing; and, Edmond Deravanessian, vice president, finance.
Source: Security Sales & Intagration