Genetec Focused On Sustainable Independent Future (CEO Interview)

Published Mar 20, 2024 13:14 PM

Virtually every new entrant from the 1990s and 2000s has been acquired (Avigilon, Axis, Exacq, Milestone, etc.) but not Genetec.

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In the 2010s, Genetec faced off against Hikvision, with the mega-PRC manufacturer now in retreat in North America and facing growing bans around the world.

However, now, in the 2020s, Genetec faces new threats with Silicon Valley mega-funded companies, including Verkada, Fusus/Axon, and Flock, all taking aim at Genetec, who is now the incumbent.

Last month, Genetec announced its new hybrid / SaaS architecture (see our interview / profile on that), which is certainly a major part of how Genetec aims to compete in the 2020s and beyond.

But what is Genetec's broader future?

We interviewed Genetec's Founder and CEO Pierre Racz, who spoke frankly about his opposition to being acquired, their focus on building a sustainable independent organization, even beyond his own tenure, and why they are skeptical of their emerging mega-rivals.

Executive *******

******* ** ******** ********* ** ***** independent ** **** *** ******** *** a ****** **** ******* ****** *** tenure ** *** ******* / ***, actively ******** ********** *** ******** / structuring *** ************ *** *** *********** independence. ******* ************ **** **** **** inquired ***** ****** *** *******, *** they ****** *** ** ** **** are *** ********** ** *******.

******* ** ***** ******* ***** *** new ********** ** ********* *** ***** about ***** ****-**** ******* ** ******* their ******* ** *** ** ** scale ************ *** *********** **** ********** out, ** **** ** ******* ** "spectacular ******* *** *****."

************, ******* ***** ***** "****-*********" *********** their ************* (** *** ********* **) while **** ******* ***** / **** as **** ***** ***** *************** ******. As ****, **** ******* ***** *************** / ************* ****** ***** "******* *** control" **** *****.

******, ******* ***** ***** ****** ********** and **** ** ** * *********** plan ** **** "*** ** ******* trouble." ********, ******* **** **** ***** acquired ***** ** "* ******** ****" that ***** ****** *** "***" ** innovation ****** ******* ** ** **** for *********** ************.

*** **** *******'* ******** ****** **** does (** ** *** *** ********) will ** * ******** ******* *** assessing *** *********** ******* **** ** in *** **** ******. ** ** believe *** ******* ****** ****** ******** represent *******'* ******** *********, ***** ***** combination ** ************* ******* *** ****** technology *****.

Sustainable ************

******* ********** **** ** ********* ** "sustainable ************":

**** ** *** ******** ***** *** the *** ** *** *********** *** organization ** *** *********** ************, ** it **** *******. ** *** **** the **** **** ** *****, *** of *** ****** **** *** ***** great ********* ** **** ****'** **** architected ** ******* *** ****** ** at ***** *** ***** *********. ** have ******** *** ************ ** ******* my ******.

Focused ** ******** ********* **** *****

*** *** **** **** *** ******** a ******* **** *****:

** *** ****** ** ***** ********* that ***** *** *** ***** **** has **** ******* ** * *** of ***** ******* ********* ** ****** out *** **** ******* ** ** that. ** ** ***** **** ** finished *** ******** *******, *** ** know * *** ** ***** ***** how ** ** ****. ****'* *** plan.

** ********, *********** ** ****** **** try ** ***** ********* ** *** acquired / ** ******. **** ********** this **** *******'* ***, **** **** being ******** ** ***** ****** **** negatively.

** *** ***** ****, ******** * technology ******* *** ** *********** ****** decades (******* ** ******* **+ ***** old) ** ***********.

Succession ********

******* ** ******* ** ********** ******** with *** ********* ****** ** *******'* current ********* **** ** ** * high-potential ******* ********:

* ** *** ******** **** ***'* gonna ** ** *********. *****-****** ** the *********** ** ******* ** **** room [********* **** *******, *** *********]. But ** **** *** ************* [*****-********** Genetec *********] **** **'** ********. ** don't **** ***** *** **** ******* them, *** **'** ******* ** *** grandchildren ***** ***.

**'* ****** *** **** ** ******* today **** **** **** *********. ** are ****** ** ***** *** ***** engineers *** *** *** ****** ***** career-limiting *****. ** ****, **** ** are ***** ** ******* **** ** situations ** **** **** ******.

**** ******** [************], **** *** ** is *** *** **** ** *** bicycle, *** *** **** ** **** that ****'** ***** ** ****** ***** knees *** *** ***** ***** ****. So ** *** ******* **** ** situations ** **** **** ****** ** riding *** *******.

No ******** ** ********** ****

************, ***** ** ** ********* ******** for ******* ******** *** *********:

* ** *** **** ****, *** surely ** ** ***** ***. ***** is ** *** **** **** "***** dead ** **** ***** ******." *** don't ****** **, *** ********* **** around *** ****. **, * ***'* know, **** * ** *** ************ anymore. * **** ****'** ***** **** me, * **** ** *** *** impression **** * ***** ** ************.

PE / ********* ****** ****** **********

*******'* *** **** **** ** / an ********* ***** ******* ********** ** "inventors ****** *** **** ** ****" as ** *******:

*** ******** ****** ** ******** *** an *********** ***** ***** *** ** inorganic ***** ******* ********** ** **%. So ** ********* ***** ** ** investment **** **. *** ****** ** that *** **** ****** *** ********* worked *** ****, *** **** **** money *** **** ** **** *** do ****** **** ** ** ********.For *******, *** ********* ****** ***** **** *** ***** ******* ********** **** *****, **** ***-***** ********, **** ** ***** ***** *********, *** *** **** *** *** ****. *** ********* ****** *** **** ** ****, *** *** ********* ****** **** ** **** ***** *****. [Emphaisis added]

********** ***** **** * ***** ******* component ***** ** *** ***** ***** into *******, ****** ** *** ********* levers ** ***** ** ** *** have **** ******** ******* **** ** had. ******* ****** **** ****** *** level ** ********** ** ******* ** acquired.

** ** ******* ********* ****** ***** the ***** *********** (*.*., ** ****, we ************** *** ********). *******,** ****, ********* ***** * *** CEO*** *** **** ***** ********** ** making *******. *** ****, ************ *** ****** ** *** ****** Of ***************** *** *** *** ***** ** Its ******* **** ************** ** *****.

Bearish ** ******* ************ **** **

******* *** *** ******* ***** *********** scaling / ******* ************ **** **:

*** *** ***** ** **** ** money ** ** ** *** ****. There *** ******, *************** ****** ** which *** *** ** ****. ** you *** ** ** ** ****** than ** ******** ******* ********, *** will **** **** **** *********** ******* and *****.

*******, * *** *** ** ****-****** competition ** *** ******* ****** ******* and ****** ****** * ********** ** the ***** **** ****, ** **** have ******* *********, *** **** ** them ***** ***** *** ******** / cloud ********* (***** *** ** ***** / ******) ***** ******* *** ****** rely ** ******** (****** **** *** own ********** *** **** **** ******* and **** *******).

HaaS ********* ********

***** ******* ************ *** ***** ** products ***** ********** **********, ** ** negative ** *** **** ******** ***** / **********:

***** ** **** ***** ** ** completely ********** ********** ******* **** ******* space ** **** **** **** ***********. But **** ********* *** **** **** hostageware [**** **** ******:******* ** * *******]. *****strategy ** ******* ***** ** ******. They want to sell you stuff like thermostats and other crap, they want 70% of your budget their strategy is that it's too **** ** ******** ******* that. [emphasis added]

***** **** *** **** ***** ******** of ******* ** * *******, **** model ** *********** ***** ********** *** is ******** ******* ** ****** ** increasingly ****** ********** ** *******, **** Verkada *** ********* *** **********. *** far ******* *** ** ** *** enterprise ********* ******* ** ** ****, and ***** ****-** ******** *** ******* issues *** **** ************. *******, ********** **** ******** ********* ********* ****************.

Mega-Companies ******** ******, ******* *** ******* *******

******* *** ********** *** ********** ***** to ****** **** ******** ********* *** innovation. ** ********* **** ** "****-*********":

***** ****-*********, *** ** *** *** oscillate ** ****. ** *** **** at *****, ****'** ****** *** **** command *** ******* ******* **** ******* command ***** ****** ** ***** *** they *** *** **** ******'* *** the ****** ** *** ***** ***** to ******** ********* *** ****** ** the ********.

*** ** ** ******* **, "**** can * ** ** **** **** anthropological ***** **** **** *******?"

* **** **** **** *** ** the *************** ****** ** *,*** ******. There *** **** * ****-****** ********** structure. ** *,*** [*********] ** **** next ***** ***** *** *** ***** to **** ** ********** ********** *****, and **'* **** ** *** **** couple ** ***** **** *** **** [Genetec] ******* *** **** **** ********** layer ***** **** ****** *,*** [*********].

******** ******** ******** ******** ** ********* for ****.

Genetec ****** ** **** "***** ** ********"

******* ********* ** *** ~*,*** ********* and **** *** **** ** ******** employee ****. *** *** ******* ** their ****** *** ************** ********* **** have ** *****:

* ** ****** ** **** ** as ***** ** ********. ** ****, there's * *** ** ******* ****, I **** ******** **** **** ** will ***** ** **** **** ** turned *** ** *** *****. **** said ** ***** ***** ** **** than *** ****** *** * *** wrong. * ******* ****** ****. *** most *** *** *** ************ ** this **** ******* *** *** *** employees. **** ** ** *** ** much ***.

*** *** ** **** ********* ** is * ***** ***** ** *** people ****** **** ***** [********* ****]. But **'* *** ****** **** ****** to ****, ** **** ***** **** the ****** ***** [***** / ********* to ******] *** **** *** ***** this ************* *****. ** ** **** a ***** ***** ** ****** *** are ****** * *** ** ***, but ** *** ****** ** **** sure **** **** ***** **** *** mistakes.

"Some **** **** ***, ****** ****** ******* *** *********"

******* *********, ******* ******* ****** **** have *** ********** ***** ********** ***** similarly ** *** ******* ***:

*** *** *** ********* **** **** not **** ****, *** ***** ******* and ******* *** *******. * **** at *** ********* **** *****'* ******* through ****. ** **** *** *** some ** **** **** **** *** and *** ***** *** ****. *** there *** ****** **** *** **** going ** ****** ******* *** *********.

Genetec **** ***** ******** ***** ** *** *** ** **********

************, ******* ** ******* ******* / negative ** ***** ********:

**** ***** ** *** *** ** innovation. **** **** *******, ****'* ***** to ** *** *** ** **. I ***** *** **** ** **** in **** * *******. **** ***** be **** * ******** **** ** a *** ** ****** ****** **.

* **** ***** *********** ** ** life, *** **** *******, ** * don't **** *** *****, * ***'* want *** *****.

Negative ** ******

***** **** ********* *** ** ****** be ******** ** ** ******, ******* aims ** ** *********** ************ *** says ***** *********** ** ** ** public, *** ** ********:

** ******** ***** ****. * ****** of * ****** ** **** **** "You **** ** **** * ****** for ***** **** *** ** *********** for ***** ******."

***** **** ** **** ******** ** go ***. ***** **** ** **** been ***** ****** ***** ***** ** four ******' ****** ** ** *** if ** *** **** ******* *******. In *** *** ****** **** **'** had, **** *****, ** **** ******* to ** **** **** **** **** for * **** *** *****, ** will *******. ** ****'* *** *********** plan.

** ********, **** ********* ****** *** to *** (*.*.,******* ****** $**** ****, *** *********** Analyzed) ** ** ** ******** ** a "****-*******" (*.*.,******** ******** ***).

Many ******* ***** ****** *******

***** ******* ************ **** **** ******** about ****** *******, **** *** *** aiming ** **** *** ******* ** the *** *******:

** **** **** ** *** ********* end ** **** ** *************. **** of **** ** ***** ***, *** sometimes ** **** ** ** ******. We **** **** ************ *** ***'* be ********* *** * *** ** those ************* ***** ** *** **** lead **** ****. **** ***** **** us ** **** ***** **** **** gold. * ***'* **** **** ******* problems. **** **** **** ********, ** no.

Security ****** ****

******* ******** ****** ****** * ****** ************ ***** ** top ** *** ******** ******** ****** codebase, ****** ** ***** *********** ****** conventional **-**** *** ****** ********** *** the *****.

**** ****, ** *********** ************, ********* Genetec's *************** ****** **** ** *** competitors *** ****** ******* ** ******** compete **** ***** *** (**** *** hybrid / ****** ********), *** ****** Verkada, ******* **** *** **** ** offer *** *** ******* (*** ******* notwithstanding).

*** ****, ***:******* *** ************ - ******** ******** Center ****

12 **** *******

*******'* *** ********** **** *** **** going ** *** * ***** ***** and *** ********** ** ********** ***** operationally:

*** ********** ** *** ******** ** a ******* ******* ** *** *****. The ********** ** ******* ** ******. Christian *** **** ***** **** ** Genetec *** ** *****. ** ** learn ** *** **** ***, ** maybe *** ******* ****** *** ** it ** *** *****? * ***'* think **. *** **** *** ** it ******* **** ** *****.

*** *** * *** ** ********* that ***** "**'** ***** ** **** move ** *** *****," *** **'** going ** ***** ****. **'* *** so **** ******* **** ***** ******* in * **, **'* ******** ******** out *** ** *** ******.

Easier ** ***** ******** **** * *******

*** *** ****, ******* ******** *** peers **** ******* **** *** ********** faster, ** "****[***] **** *****" ******** morphing **** *******:

**'* *** ****** ** ***** * piece ** ******** **** ** ** to ***** * *******. **'** **** that **** ** ***** *** *** do **** ** ***** **** ******* to **** **** *****. **, ****** that ***** **** **** *** ***** their ********* ** *** **** ** two ***** *** ** *** * nasty ********.

***** ********, **** ** ***** ***, have ***** ********* *** ********** ************* to *** *****.

Trying ** ***** *** ******* **** **

*******'* *** **** ** ** * corporate **** ** *** (***** **** Packard, *** **-*******, *** *** *******), and ** ******* ***** *** ******* of ** *** ***** ** ***** them ** *******:

*** ** ** ********* ****** ** Hewlett-Packard. ** *** **** ** *** values, **** **** ******* *** *** ones **** **** ******* ****** ** 1954. **** *** ********* ** *** read ****, **** *** ********** ********* from ****, *** ***** *** ** to **** * ******. **** ** to ** **** ** **** *** activities **** ** **** ** **.

** *** **** ** *** ******** in *** *** ** ****** *** products, **'* **** ** ** *** 70s *** *** ***.

** ******** *********** ******** *****, ********* *******'* *** ******** *** emphasized ** * ********** **** *** them:

** *** **** ********** ** ******* around ****'* ***** ** **** *******'* management *****. [** *** ****] **** To ***** **** *** *** ** the ********* **** **** ********. *****'* a ******-** **** ****** "*** *** Mighty ****" ***** ******** ** * cautionary **** ** *** **** ** the "**** ** *****" ********* ********. HP *** *** ** ****. ** yes, **** *** *******. **** ******** after **** ******* *** *** *** and ***** **** ***** ** *** succession, **** *'* ****** **** **'** thought *****.

*******

***** ******* ** ******** ********* ** remaining ***********, ** ******* ** ** seen *** **** **** ********* *** new ********** ** ***/***** ********, ***** are ******* **** *** ****-******. * key **** **** ** *** *************** *** ****** / **** ************** *** *** **** **** ** retaining ***** ********* *** ********* ** new **** **** **.

Comments (6)
Avatar
Marco Sanchez
Mar 20, 2024

* **** ** *** **** ***** time * **** **** ****** ** any ********* ** ******** ** ****** treats ******** **** ******* *** ***** the **** ** ***** ** ****** on ** ********** *****. ** **** not ******* *** *** ** *** higher ***** ********** * **** ***. I **** *** **** **** ** isn't ******* ** **** *** **** recognizes **** **** ** **** ** too *** *** ** ******** *** that **********. **** ******* ** *** entire ******* ******! ** *****.

"** **** **** ** *** ********* end ** **** ** *************. **** of **** ** ***** ***, *** sometimes ** **** ** ** ******. We **** **** ************ *** ***'* be ********* *** * *** ** those ************* ***** ** *** **** lead **** ****. **** ***** **** us ** **** ***** **** **** gold.* ***'* **** **** ******* ********.**** **** **** ********, ** **."

(21)
(2)
U
Undisclosed #1
Mar 21, 2024

** *** ***'* ****************** * ************ **** ******, *** AREN'T *********.

** ** *** ** *** **** honest *** ********** ***** **** *** may **** **** *** **** ** conversing ****!

** ****** ** ***** ******* **** Pierre *** *** ** *** ******* C-suite *** ***** ********* *****. *** overall ****** ******, ***********, *** *********** can't ** ******* ** *** ** their ***********.

(11)
UI
Undisclosed Integrator #2
Mar 21, 2024

** ****** ******** ** *** *******, and ***** ** **** * ****** not ** **** ** *****.

(2)
UM
Undisclosed Manufacturer #3
Mar 21, 2024

**** ** ** **** ** *** you **** ** ** ** **** control **** ** ************ *** ** long. ****** ** ************* ** **** manner.

* **** * *** ** ******* concerns ***** *** ******** ****** **** strategy **** ********* **** *** ******. The ******** ** ****** *****, *******, on-premise ******* ****** **** ***** *** trying ** ******** **** *** ***** up ** *** **** ******** ** large ****** *********** *** **** ********* to **** ** ******* ********. *** only ********** ********** ** **** **** be ********** ************ ** ********* * cloud-centric ********** ********** ** ** ******* to **** *-* ***** ** ***** something **** ******* *** ** * bit ****** *** *** ** ***** up ** *** ****** ******. ***** love ** **** ** ****** *** counter-examples ** ****.

JH
John Honovich
Mar 21, 2024
IPVM

** ******* ** **** *-* ***** to ***** ********* **** ******* *** be * *** ****** *** *** to ***** ** ** *** ****** shifts

*******'* ******** ** **** **** **** been ******* ** **** **** ************ already *** **** *****. ** ******* that ** *** ***** ****.

***** **'* ***** ** ** ******** soon, * ***'* ********* ** *** good ** *** ** **. ******* we'll **** *** **** ******.

(1)
UM
Undisclosed Manufacturer #3
Mar 21, 2024

**** ** **** **** *** ***** article ** *** *** **** ************ is ***** **** *** ****** ** or ** *** ***** ** *** of ******** ******. ** ** ***'* on *** ** ******** ******, **** would **** **** **** ****-**** ** try *** ****** *** ******* **** those **** *******. **** ***** **** insight **** *** **** **** **** have ***** (** **** ** **** GA) *** *** **** **** **** the ************ **** *** **** * years.

******* ******* ** ******* *** ******!