Arecont Acquisition By Costar

By: John Honovich, Published on Jul 11, 2018

Arecont Vision acquisition by Costar Technologies has been approved by the court, concluding the bankruptcy process triggered by Arecont's founders $80 million loan default, and winning the auction vs Turnspire.

But who is Costar? And what happens to Arecont now? Inside this note, based on feedback from Costar and Arecont, we examine these questions.

******* ****** *********** ** ****************** *** **** ******** by *** *****,********** *** ********** **************** *********'* ******** $** ******* loan*******, *** ******* ********** ** *********.

*** *** ** ******? And **** ******* ** Arecont ***? ****** **** note, ***** ** ******** from ****** *** *******, we ******* ***** *********.

[***************]

Acquisition ***** 

****** **** $**.** ******* in ****, ***** *****'* **** ***** documents:

**** ** ********** ****** than *** ******** $** million *** **** ********* had *******. ********* **** ** paid * ******* ***, for ***** ******.

************, ****** **** ****** liabilities ** ~$** *******:

Who ** ******?

[****: **** ******* ** copied **** *** **** last ****,**** ***** ** *** have ******* **** ****.]

****** ** * ******** traded *******, **** **** ****** ******* ** $** ******* vs * ****** ************** ** **** $** *******. *** company ******** ** ****** *****, * ******-******* ***** surveillance ********, ******, ** ********** ***** surveillance ********** ****** ******** ** ****, *** ******** ********, ******* ****** ******* surveillance ******* ******* ******** ** ****.

***** ******* ******* ****** Video *** ****** ** close, **** ****** ** made **** ******, ** the ******* ***** *****:

**** ***** ****** ****** and *&* ************ *** low, ** ************ **% and *.*%, ** ***** below:

******'* ******** ** ************ on ******* ******* ***** growing ******* ************, ********* to ***** *** **** ******** ************:

Future ** ******* ** ****** / **** *&*

****** *****, ** *** announcement, **** ** ***** strength ****** ** * 'real' ************:

** ******** ******’* ******** to ****** * ****** in *** ***** ************ industry, ************* **** * value-added *** ******* ******* to * ************* ***** and ****** *******. ***** with *** ***** ****** acquisitions, *** ******* *********** increases *** ************* *** design **** ************* **% to **% ** *** revenue.

********* ** ****, ****** ********** **** they ***** ** ********** investment ** *******'* ******* R&D:

******* ** ********* ******** 8% ** ******* **** the ****** ********** ** staff. ***** *** *********** we ****** **** *** R&D ***** **** ******** to *** **-**% ***** as ** **** *** technical ********* ** ******** the *********** *** ******* of *** **** ******* line.

********** ****, ****** ***** their ******* ********** **** their **** ** ********:

**** ** ****** **-**% on *&* **** ********** spend **** **** **** as **** ********* ** house ******* *** *** developing *** ******* *** future ****** ********... ****** has ********** **-********** ***** product **** ***** *** acquisition.

Arecont ********** ******** ************

*******'* ********* **** ******** noted ** **** **** he *** ***** ******'* management *** **** **** 20 ***** *** **** the *********** *** ********** received, ****** ******'* "******* commitment ** ********* *** business **** *** ******, not **** *&* *** customer ******* *** ******* as ****."

Upside *** ******

******, ************** ****** (*** **** slip), ** * ********** small *******. ******, *******'* revenue **** **** *****, even ** ***** *******, was **** ******** **** than ******. *** ******, they ***** ********* ****** ***** revenue *******. ****, ********* on **** '*********' / cost ******* **** *** find **** ********* **********, it ***** ******** ******'* profitability. *** ***** *** low *********** *****, ** they **** ******* ****** and ***** *** ******** of *******'* ********, **** could *** ******* ****** from *******'* ******** ***** currently.

Challenges *** ******

*******, ***** *** ********* challenges *** ****** / Arecont *********:

  • *******: ***** ******'* ********** small **** *** ***** status **** ****** *** relatively ***** ***** ************ industry, *** **** ******* / ********* **** *** access ** **** ** a **** ******** *** likely **********.
  • ***********: ******* ** *******, will **** ****** ********* and **** ** ******* cameras ** **** ** beat *** **** ** Axis, ********, *****, *********, etc.? **** *** **** 5 *****, *******'* ***** lead ** **** ****** resolution *** *****-****** ******* have ****** **** ********** or *** **** *************. What *** ****** / Arecont ** ** ******* this?
  • ********:*******'* ***** ** *******, ** *** *** least. *******, ****** *** very ****** **** ***********. To **** ***, ******* will **** ****** **** to ****** ***** *****, which **** *** ** easy.
  • ********* ****** *****: ** **** ** interesting ** *** *** much '*********' ***** ******* selling ****** ******'* *****. For *******, *** ******'* existing ****** ** ************** businesses **** ******* **** more *****-******* ** ***** verticals?

Vote / ****

Comments (30)

Undisclosed #1

07/11/18 11:58am

******** *** *********** *** support ** *** **** product ****

*** ** *** ***** are **** ********** **** the **** ********? ***** the ******* *** ******* available *****, **** *** re-inventing *** ***** *** carving ** *** ** stone ** ******** **** FPGAs.

********** ** ******* ******** products ** *** *****, but ******* **** *********** time *** ***** **** that ************ ** * losing ********.

John Honovich

IPVM | In reply to Undisclosed #1 | 07/11/18 12:05pm

**** ********. *'** ***** them ** ***** ***** case *** ***** ***** forward. * ** ******* what **** **** ** say ******* ** *** past ** *** ** advantage *** ***?

John Honovich

IPVM | In reply to John Honovich | 07/11/18 01:37pm

*******, ***** ****** **** they ****** ******* ****** on ***** *******, *********:

* **** *** **** we *** ********* *** utilization ** **** **** and *** ********** ** well ** ******* ** unison ** ******** *** advantages ** ****. *** future ******* **** ******** to **** *** **** differentiating ******** *** ********* just ** ** ************ have.

**** ***** *** **** specific ******** / ************, Arecont *****:

***** ***** *** *********** of ****** *** ********** as **** ** ***** special *********** ********** ** the *********** ** *******, non-visible *** ***** ****** types **** * ******** solution.

** **** *** **** they **. 

****: *** *** ******* line **** '*******' **** while *** ***** / existing ******* ******* *** their *****.

Undisclosed #1

In reply to John Honovich | 07/11/18 01:49pm

***** ***** *** *********** of ****** *** ********** as **** ** ***** special *********** ********** ** the *********** ** *******, non-visible *** ***** ****** types **** * ******** solution.

************ ***** **. ** have *********, *********, **,  Qualcomm, *** ******* ******. You ***'* **** ** FPGA, ** ****** ******** special ** ** ****, there *** ******* ***'* available, *****, **** *** can ***** ***** ***** of ******** ** ****.

 *** *** ******* **** uses '*******' **** 

*****, *** ***** *** OEM/ODM ***** ******? * did *** *** *** impression **** ******* *** any *********** ********* ** the ************ ****** ** any ** ***** **** recent ******** ** ******** products ** *** ******* line.

******* ****** *** ********** why ******(*) **** ** doing ****-***** *******.

 

** ***'* **** ** some *****-***** ******* ** company ** ******* *,*** FPGA-based ***** * ****.

Undisclosed Manufacturer #2

07/11/18 12:43pm

* ***** **** *** concept *** *****, *** is ***** *** ****** evidence ** ******* **** architecture?  *** ***** **** a **** ** ** the ***** **-*********** **** you ******'* ** **** a "********" *** **** a ******** ******?

** *** **** ** flexible **** **** *** use ** *** ****-********** products, ** ** **** need * ***** ****, just **** *** ***** SoC-based *******, ********** ***, etc. **** **** **********?

Undisclosed Manufacturer #3

07/11/18 12:56pm

****’* ***** *** ** FPGA ** ******* ******* for *********?

Undisclosed Integrator #4

07/11/18 01:16pm

* ***'* **** *** much ********* ** *********** Karen *****, ********* ** Sielox *** *** ** the *** ********** ****** for ******, **** **** with ***** *** ******* division. *'** *** *** a *** ***** *** she ****** ****** **** sharp, ****** *** ***** on **** *** ******* and ********. **'* *** uncommon *** *** ** accompany *** **** **** on ***** ***** *** answering ********* ***********.

** **** *** *** only *** **** ****** I ***** ********- * very ******** *** ******* positive! ******* *** **** have * **** **** uphill ****** *****.

** *** ********, ****'* to *******!

Chalon Dilber

07/11/18 01:19pm

***** ************* *** ****** mafia!  ****** ***** *** *** and ****-****** ***********, **** like ****.  * **** Calderon ** ******** **** term ** ** ******** knows **** ***** *** bodies *** ************ *** buried at ******* *** **'* a really **** ********, **** the **** ** ******.

** **** ******* ***** be ** *** **** ********* (I'm ******** **** ****'* have ~$*** ** **** since ***** ****** *** *** only $***) ****** * burden. *** * *****'* seen *** **** ** the ***** ** ********* for *** ******* ********.

Undisclosed Integrator #4

In reply to Chalon Dilber | 07/11/18 02:21pm

***** **** ****** *** market ***** ** ******* at ****** ***** ** trying ** ******** ******** on *** ****.

**** ***** ********

*** ****'** **** **** than **** ****** ** get ** *** *********'* radar. *** ** **** can *** ****** ** a *********** *********, *** boost ** ***** ******* worth ***** **** ****** the ******** *** **** acquisition.

John Honovich

IPVM | In reply to Undisclosed Integrator #4 | 07/11/18 02:24pm

*** ****** **** ********** **** **** **** broke *** ****;)

** *** ***********, ** don't *** **** ********* (**** nor *****) ** *** company ** *****.

****, ** *** ******, their ***** *** **** low ******* ****** (** trades ** **** **** a **** ***** *****), that ** ** ****** risky.

Undisclosed Integrator #4

In reply to John Honovich | 07/11/18 02:28pm

** * *** *** the ***** *********, * seriously ***** ****, ** least *** * ***** term ****. ***, * would **** **** ** by *% ***.

Undisclosed End User #7

In reply to John Honovich | 07/13/18 04:10pm

* ***. *** * huge ********, ******* *** volume *** **** ********, but *********** ***********. *'* a ***** ***** ******** so ***'* **** ** to ******, *** * thought ****** ****** ****** they ******** ******* ***** ** like ******* ** ** the ****** ***** ** an ***, ***** **** were ********** * ********* owned *******.

John Honovich

IPVM | In reply to Undisclosed End User #7 | 07/13/18 04:19pm

* ***. *** * huge ********

***, ************ ***** **** ***********:)

** *** ****** **** their ******* ********* *************, it ***** ******** ********* to ******. *** ***** valuation ** **** ***, so *****'* ********* **** for ******.

* ***'* **** **** knowledge ** ********** **** stocks **** **** * low ******* ****** (*.*., most **** ** ****** are ******). ****** **** anything ** ***** ***** the ********* **** ** that?

Undisclosed End User #7

In reply to John Honovich | 07/16/18 03:16pm

***, ******** **** ***** than ***********! ***. * have *** **** *********** with ***** ******. **** like ** **** ****** ******* lots **** * ******* looking *** * ******* spot ** *** **** store.

****** **/*** **** * lot ** **** ** one ****** **** *** few ***** ******** **** have (*******?). *** * definitely *** *** *********** to **** **** ******** around.

**** ** ***** ******* pretty *** ******* ** always, *** *** ***** ** up **% **** *******.

John Honovich

IPVM | In reply to Undisclosed End User #7 | 07/16/18 04:05pm

**** ** ***** ******* pretty *** ******* ** always, *** *** ***** is ** **% **** morning.

***'** *****! ****** **** 300 ****** **** **** traded:

John Honovich

IPVM | In reply to Chalon Dilber | 07/12/18 01:13pm

** **** ******* ***** be ** *** **** servicing (*'* ******** **** didn't **** ~$*** ** cash ***** ***** ****** cap *** **** $***) became * ******

******, * ***** ****** about **** ********* *** have *** ******** *** response. * **** ******* them *****. **'* * good ******** *** * concern * ***** ** the ******** ****. ** I *** * ********, I'll ***.

Chalon Dilber

In reply to John Honovich | 07/12/18 03:55pm

****** ****,

** * ******* ****, after ******** ******* *** investor ********* ***** * **** can ** **** **** this *** ** *** continuation ** * ****, multi-year ****-** ****. 

*** ****-**?  *** **** of ***** ***** ******* reads **** **** **** a *** ** ********** with distressed ******, ********** *** creative *********.  * ********:

...**** ********* ** ****** Capital *****, * ****** investment ****, ***** ** managed * ********* ** distressed **********, ****-************** ******** and ***** ***********

...******** ** *********/***** *********** Corp. (******: ****), * blank ***** *********** *******.

...******* ********* ** *** mergers *** ************ ********** at *. *. ****** Chase & **

***** ************ *******, *****, often ******, ***** ********* that *** **** **** positive combined **** ********** ************* *** 'falling ****', '**** ** the ***', ****** (**** smart ** *** ********* of * ***** ***!)

** **** ** ******** to *** *** **** **** around ******* *** **** steps **** **** ****.  Their ************ ********* ***** on ***** ********* *** there ** ** ************ property ** *** ** their ******** ********* ** *** as I *** ****; ** ******, there's ** ******** ** ***** analytics ********* ** '**********' video ********* ********* *** that ******.  *** ***** to ********* **... 

 

 

 

John Honovich

IPVM | In reply to Chalon Dilber | 07/12/18 04:08pm

******, **** ******. * agree **** ***. ** their**** ******** ************* ***** ** *** article, ** ******** ***** strategy ** ********* $* - $** ******* ******* annually.

***** **** *** **** money *** **** *** it ***** ******** * frankenstein ********. ****** ******* related ********* *** ****** to ***** **** ********, I ***'* ****.

** *** ***** ****, ACRE ** ***** ********* like ****, *** ********* (which * ***** ** better **** ***** * OTC **** ****), **** a *** **** ***** and ******* **** * big *** (******/******* *******).

John Honovich

IPVM | In reply to Chalon Dilber | 07/12/18 10:39pm

****** ******** ** *** debt ********* / ********* question:

** **** *** ******** via ********* ******* *** Bank, ****** ** **** did *** ******* *** specifics ***.  ** ** have * ******* ** making ************ ******* **** financing *** ********* *** positive **** **** **** operations ** *** **** pay **** *** **** debt, *** **** **** investments ** *** ************.  We ********** ********* *** same ******** *** **** acquisition. 

Undisclosed #8

In reply to Chalon Dilber | 07/16/18 03:54pm

**** ***** ** ** would **  ** **** useless ********* **** ******** and *** **** ** the ********** ****. *** company ****** ***** *** leadership *** **** ***.

** ****** ** **** politics ***** **** *** sit ****** *** ** nothing **** *** ******* a *****.

John Honovich

IPVM | In reply to Undisclosed #8 | 07/16/18 04:03pm

** ****** ** **** politics ***** **** *** sit ****** *** ** nothing **** *** ******* a *****.

** *********?

Undisclosed #5

07/11/18 02:56pm

*** **** ****’** *** the ***** ******, ******* they *** *** *** ** well...

John Honovich

IPVM | In reply to Undisclosed #5 | 07/11/18 03:04pm

*******: ******* ***** * ***** Button *** * ****

*** ****** ******* ****** **** * ***** button:

Undisclosed Manufacturer #6

07/11/18 05:56pm

**** ***** **** *** mentions ** ******* ** not **** *********** **** affect *******'* *** ************ with ******* *** ***** VMS?  ***** **** ****** might ******* ******* **** that ****** ** ******, as ****, *** * just ****'* **** *** OpenEye ***** **** ***** it.

Undisclosed Integrator #4

07/16/18 05:50pm

 **** **** ****** *** old ***** **** **** where ******* ******* *** blaming *** "**** ***" we **** ******* ** some ** *** ******* of *** ****** ** probably * "****** ** the *** ********". ***** most ********* ***** ** was ******** ***** ** filters **** ****** **** those ******.

 

Undisclosed #10

In reply to Undisclosed Integrator #4 | 07/24/18 09:08pm

* **** ******* **** ******* for ***** ****** ******** a ************ ** *****, flapping ******* ********** ***** and ********** *****, *** delivering ***** ****** *** second **** *******/**********. *** best *** ** **** my *** ** ** ask ** ** ***** an ******* ****** *******.

John Honovich

IPVM | 07/24/18 05:44pm

****** / ******* ******* recorded+************ ******. * **** ******* a ****** *** ** far *** ****** ** include **** ** *** post.

Undisclosed Manufacturer #11

In reply to John Honovich | 07/25/18 12:54am

**** ******* *** ****** presentation.  *** ****** ** identify *** ****** ********** thought ** **** ** any ** *** ******.  Pity.

John Honovich

IPVM | In reply to Undisclosed Manufacturer #11 | 07/25/18 01:01am

**** ****** *** * company ** ******* **, perhaps **** ************ *** too ****?

Undisclosed Integrator #4

In reply to Undisclosed Manufacturer #11 | 07/25/18 12:48pm

** ***** ******* **** just *** *** ******* so *** *** ***** term **** *** **** be ****** ** *** on *** ********** ** activity ****** *** ***** along ** ****** ***** they ******** * **** for ********* **** *** asset ** ******. *********.

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