Agent Vi Acquired By Sweden's Irisity

By John Honovich and Sean Patton, Published Sep 03, 2021, 09:09am EDT

Agent Vi, one of the oldest video surveillance analytics developers, has been acquired by Irisity, a publicly-traded, though mostly unknown, Swedish company.

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Inside this note, based on feedback from Irisity CEO Marcus Bäcklund, we examine the terms of the deal, the fit, and the future of the company.

Irisity ******** ****** ~$*** ******* ****** ***

*** ** *******'* ******* financial ********** **** ********** sized ********* ******** ** that **** *** ******** traded **** * ****** capitalization ** ~$*** ******* and * ***** ***** price ** ***+% **** the ********* ** ****:

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Revenue *** ****

*******'* *** ******* ** rather ***, **~$*.* ******* ** ********** ****% *** ** ****** ***.

******,*******'* **** ******* ** $6.1 ********** ****** **** *******'*. However, ******* ** ****** 20 ***** *** *** AgentVi *** ********* ** deliver ******* ******.

Valuation *** *******

******* **** $**.* ******* for *******, **** **** 10x *******'* **** *******. This ** ** **** with **** ******* ******* for ****** ******** ******** deals ****** *** **** that ******* ** ** old *** *** ********* to **** ******* ***** the ********* **** ********.

Paid ****** ** *****

******* ********* *** *** high ********* (~*** **** revenue) ** ******** *******. 88% ** *** ******** price *** **** ** Irisity's *****. **** ******* AgentVi's ************ ** **** risk ** *******'* ***** price ***** ****** **** can ********* ***** **********.

On *** ****** *** * *****

******* ********** **** **** us **** ******* *** being ******* *** **** time ** **** **** deal ******** ** *** surprising. *** ***** **** is ******** ********** ** us *** ******* **** have *** ********* ** its *** **** ****** valuation.

*******'* ******** ****** *** paid *** ** **** traditional ****** ****** *** company ************* *****.

Moderate **** *** *******

*******, **** ** * moderate **** *** *******. Considering *** $* ******* revenue, *** **** ** good. *******, **** ** offset ** *** ****** 20 ***** ** ******** and ******* ** ******** ******** in *** *******.

Acquisition *** ******* **** ******

IPVM Image*******'* *** **** ****:

*** ** *********** *** we **** ***** ** as * ****** ***** both ********* *** ** similar ****. ** *** CEO *** ** **** include ******* ****** **** AVI ** *** **********. Yes ** **** **** the ***-**** ****** ** the ** *** ********* offices, *** ** **** further ****** *** ***** locations.

Merging "****** ***********"

*** ******* ** **** is **** ******* ** two ********* ****, **** by *******'* *** *********,*** '****** ***********'. *** ******** **** note, *** ** *****, is **** **** **** "complementary ******** **** *** geographical ********." *******, **** are **** ********-**** ********* providers. *******'* *** **** IPVM ****:

** *** ************* ******* also ****** *******/**********, **** product ********* **** ******** and ****** ********** *** complementary, ** ** **** of *** *** ***** algorithms **** ******* ******** and **** *********

*** ***** ******* ** merging ****** *** **** different ********* ********, ******* from ****** *** ******* from ******.

Software **** *****

***** **** *** ******** are ******** ***** ********* with ******** (*.*., ***, Rhombus, *******), ******* ***** IPVM **** *** ******* on ***** ******** ****:

** *** * ******** based *******, ********** ** and ****** ******** ** analytics, *** ********* *** us ** ****** *********** of *** ** ***** or ************.

*** ******** **** ** that ******** ************* **** not *** ******* ** a **********. *** ******** side ** ******* ** how **** ******** **** can ***** **** ***** hardware *************. ******* *** pursued *** ********-**** ***** for ***** *** *** revenue ** * ********* to *** ********** ** growing ******* **** **** approach.

Irisity - ****** **** **********

******* *** ****** ********** foundation, ** *** ******* is ********* *********** **** numerous ********* **** ******** Institute ** **********, ******* ****** ******** *********** university.

Weak ***** *** *********

******* *** **** *** brand *********** ***, *** LinkedIn, **** * ****** in *****. ** ** not ***** ** ** how **** **** **** build *** * ***** and ********* ************, ** area **** ******* **** struggled ****. *******'* *** responded ** **** ******:

**’* **** ** *** a **** ******* *** we **** **** * talented ***** *****, ******* primarily ******* ** *** European ******, ********* ** see ***** ********* ****** geographical ****** ******** **** this ******.

******* ** ****** ******** in ***** ******* **** Irisity *** **** ** not ****** **** ** AgentVi's ******** ** ***** limited ** *** **, despite ****** *** **** than * ******.

Outlook *****

** *** ******** ****, Irisity *** * ******* market (***** ********* *** matured) **** ********* ***** to **** **** **********, so **** **** ********** advantages ** ***** *****.

*** ******** **** ** that ** ** *** see *** *******, ***** has *** *** ******* problems, ****** *** ********** Irisity *****, ********** ***** software-only ********* ********** **** almost ****** ********* ** reach ***** ** ***** embedded / ***-**-*** ******.

Vote / ****

Comments (7)

***, ****'* * **** multiple ** ***** *******.

*** ** ********* ******** how **** ** ***** annual ******* ** ********** to * ********* ************ license?

Agree
Disagree
Informative
Unhelpful
Funny

**** ** *******. ******* ceo ****** ** ***** for *** ***** *** diligence *** ****** *** too **** *** * struggling ******* **** *** own ******* ** **********. Something ****** ***** ** this.

Agree: 2
Disagree
Informative
Unhelpful
Funny

**** **** **** *** make **** ***** ** me *** * ***'* see ******** *****, **** a ***** ****, ** the ***** ****.

Agree
Disagree
Informative
Unhelpful
Funny

** *** **** *** similar ******** ** ** the **** *********** ** Ipsotek? *** ***** *** independent ****-*** ***** ********* companies **** ** **** they *** *** **** acquired?

Agree
Disagree
Informative: 1
Unhelpful
Funny

**** ********. ***** *** lots *** **** ** video ******** *********, ***** so **** **** ******* in *** **** * years, *** *.*.** ***** ************ ******** Directory ****. ******* ** *** one ********* **** '****-***' or *** ** ****** debatable.

*** ****** ********** ******* Ipsotek *** ******* ** that **** **** ********** old *********, **** ******* ~20 ***** ***. ***** companies **** *********** *** been ******** *** ****'* primarily ******* **** ********* can't *** *** ******* at **** ***** ***** and **** **** ******* success.

** *******/*******, ** *** *** cover **. **** ** a ***** ******* (~** billion ***** ****** *******) that ***** ******* ************ with ******* ******** * very **** **** ** Atos.

Agree
Disagree
Informative: 1
Unhelpful
Funny

*** ** ******** ******, Iristy's ***** ****** ***** grew **** ***** *** 1 ** **** *** 6 ***** **/**. * bit ******* ** ****'** very ****** ***** ** Europe. ********* ** *****'** just ********* ******* *** right ****** ** *** background. ******* ***** *** be *** **** *********** for **** ***** *********** 14 *********** ** *** LinkedIn ********* * **** revenue ** $*.* ******* (average $**** *** ****). Technically ****, **** *** too **** ************ **** the **** *****. ** this **** * **** of ********* *** ** impact ** ****** ** the (********) ******? *** there ****** ** **** investors *** ***** ********* that **** ** ****?

Agree
Disagree
Informative
Unhelpful
Funny

*** ***** ****** ** many ********* *** ***** believing **** **** ** SaaS?

***. (*) * *** of ********* **** * lot ** ***** **** are ******* ** *** to ****. (*) ******** security **** ** * hot ***** ***** *** (though ****** ******* ** Latch) ******* ******* *** AgentVi **** *** ****-** element.

* ** ***** **** is ** *** **** but **** **** ********* in ***** ***** ***** the ******* ****** **********.

Agree
Disagree
Informative
Unhelpful
Funny
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