Agent Vi Acquired By Sweden's Irisity
Agent Vi, one of the oldest video surveillance analytics developers, has been acquired by Irisity, a publicly-traded, though mostly unknown, Swedish company.
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 ******** ****** ~$*** ******* ****** ***
*** ** *******'* ******* ********* ********** over ********** ***** ********* ******** ** that **** *** ******** ****** **** a ****** ************** ** ~$*** ******* and * ***** ***** ***** ** 500+% **** *** ********* ** ****:
Revenue *** ****
*******'* *** ******* ** ****** ***, at~$*.* ******* ** ********** ****% *** ** ****** ***.
******,*******'* **** ******* ** $*.* ********** ****** **** *******'*. *******, ******* is ****** ** ***** *** *** AgentVi *** ********* ** ******* ******* growth.
Valuation *** *******
******* **** $**.* ******* *** *******, more **** *** *******'* **** *******. This ** ** **** **** **** revenue ******* *** ****** ******** ******** deals ****** *** **** **** ******* is ** *** *** *** ********* to **** ******* ***** *** ********* more ********.
Paid ****** ** *****
******* ********* *** *** **** ********* (~35x **** *******) ** ******** *******. 88% ** *** ******** ***** *** paid ** *******'* *****. **** ******* AgentVi's ************ ** **** **** ** Irisity's ***** ***** ***** ****** **** can ********* ***** **********.
On *** ****** *** * *****
******* ********** **** **** ** **** AgentVi *** ***** ******* *** **** time ** **** **** **** ******** is *** **********. *** ***** **** is ******** ********** ** ** *** Irisity **** **** *** ********* ** its *** **** ****** *********.
*******'* ******** ****** *** **** *** as **** *********** ****** ****** *** company ************* *****.
Moderate **** *** *******
*******, **** ** * ******** **** for *******. *********** *** $* ******* revenue, *** **** ** ****. *******, this ** ****** ** *** ****** 20 ***** ** ******** *** ******* ** ******** ******** ** *** company.
Acquisition *** ******* **** ******
*** ** *********** *** ** **** treat ** ** * ****** ***** both ********* *** ** ******* ****. Im *** *** *** ** **** include ******* ****** **** *** ** our **********. *** ** **** **** the ***-**** ****** ** *** ** and ********* *******, *** ** **** further ****** *** ***** *********.
Merging "****** ***********"
*** ******* ** **** ** **** merging ** *** ********* ****, **** by *******'* *** *********,*** '****** ***********'. *** ******** **** ****, *** we *****, ** **** **** **** "complementary ******** **** *** ************ ********." However, **** *** **** ********-**** ********* providers. *******'* *** **** **** ****:
** *** ************* ******* **** ****** product/technology, **** ******* ********* **** ******** and ****** ********** *** *************, ** is **** ** *** *** ***** algorithms **** ******* ******** *** **** detection
*** ***** ******* ** ******* ****** two **** ********* ********* ********, ******* from ****** *** ******* **** ******.
Software **** *****
***** **** *** ******** *** ******** video ********* **** ******** (*.*., ***, Rhombus, *******), ******* ***** **** **** are ******* ** ***** ******** ****:
** *** * ******** ***** *******, developing ** *** ****** ******** ** analytics, *** ********* *** ** ** remain *********** ** *** ** ***** or ************.
*** ******** **** ** **** ******** manufacturers **** *** *** ******* ** a **********. *** ******** **** ** whether ** *** **** ******** **** can ***** **** ***** ******** *************. AgentVi *** ******* *** ********-**** ***** for ***** *** *** ******* ** a ********* ** *** ********** ** growing ******* **** **** ********.
Irisity - ****** **** **********
******* *** ****** ********** **********, ** the ******* ** ********* *********** **** numerous ********* **** ******** ********* ** Technology, ******* ****** ******** *********** **********.
Weak ***** *** *********
******* *** **** *** ***** *********** and, *** ********, **** * ****** in *****. ** ** *** ***** to ** *** **** **** **** build *** * ***** *** ********* organization, ** **** **** ******* **** struggled ****. *******'* *** ********* ** IPVM ******:
**’* **** ** *** * **** venture *** ** **** **** * talented ***** *****, ******* ********* ******* on *** ******** ******, ********* ** see ***** ********* ****** ************ ****** coverage **** **** ******.
******* ** ****** ******** ** ***** America **** ******* *** **** ** not ****** **** ** *******'* ******** is ***** ******* ** *** **, despite ****** *** **** **** * decade.
Outlook *****
** *** ******** ****, ******* *** a ******* ****** (***** ********* *** matured) **** ********* ***** ** **** SaaS **********, ** **** **** ********** advantages ** ***** *****.
*** ******** **** ** **** ** do *** *** *** *******, ***** has *** *** ******* ********, ****** the ********** ******* *****, ********** ***** software-only ********* ********** **** ****** ****** struggled ** ***** ***** ** ***** embedded / ***-**-*** ******.
Vote / ****
**** ** *******. ******* *** ****** be ***** *** *** ***** *** diligence *** ****** *** *** **** for * ********** ******* **** *** own ******* ** **********. ********* ****** fishy ** ****.
**** **** **** *** **** **** sense ** ** *** * ***'* see ******** *****, **** * ***** deal, ** *** ***** ****.
** *** **** *** ******* ******** in ** *** **** *********** ** Ipsotek? *** ***** *** *********** ****-*** video ********* ********* **** ** **** they *** *** **** ********?
**** ********. ***** *** **** *** lots ** ***** ******** *********, ***** so **** **** ******* ** *** last * *****, *** *.*.** ***** ************ ******** ********* ****. ******* ** *** *** ********* them '****-***' ** *** ** ****** debatable.
*** ****** ********** ******* ******* *** AgentVi ** **** **** **** ********** old *********, **** ******* ~** ***** ago. ***** ********* **** *********** *** been ******** *** ****'* ********* ******* most ********* ***'* *** *** ******* at **** ***** ***** *** **** such ******* *******.
** *******/*******, ** *** *** ***** **. Atos ** * ***** ******* (~** billion ***** ****** *******) **** ***** regular ************ **** ******* ******** * very **** **** ** ****.
*** ** ******** ******, ******'* ***** market ***** **** **** ***** *** 1 ** **** *** * ***** Q2/20. * *** ******* ** ****'** very ****** ***** ** ******. ********* if *****'** **** ********* ******* *** right ****** ** *** **********. ******* might *** ** *** **** *********** for **** ***** *********** ** *********** as *** ******** ********* * **** revenue ** $*.* ******* (******* $**** per ****). *********** ****, **** *** too **** ************ **** *** **** years. ** **** **** * **** of ********* *** ** ****** ** expect ** *** (********) ******? *** there ****** ** **** ********* *** there ********* **** **** ** ****?
*** ***** ****** ** **** ********* out ***** ********* **** **** ** SaaS?
***. (*) * *** ** ********* have * *** ** ***** **** are ******* ** *** ** ****. (2) ******** ******** **** ** * hot ***** ***** *** (****** ****** Verkada ** *****) ******* ******* *** AgentVi **** *** ****-** *******.
* ** ***** **** ** ** odd **** *** **** **** ********* in ***** ***** ***** *** ******* market **********.
**** *** ***** **** **** ** IPVM ** *** *********** ** ******?
** ** * ***** **** ** hear ***** ****.
**, ** ** *** **** ** currently. *** *** ****** * *** of ******* ***** **? *** **** concern ** **** **** *** ** small *** *** ** ***-**.
***, ****'* * **** ******** ** their *******.
*** ** ********* ******** *** **** of ***** ****** ******* ** ********** to * ********* ************ *******?