Hikvision First Western Acquisition - Alarm Manufacturer Pyronix

Author: John Honovich, Published on May 19, 2016

Hikvision has $1.5 billion, at least, to spend internationally.

Now, they have done their first Western acquisition, acquiring UK alarm manufacturer Pyronix.

In this note, we review Pyronix's financials, their market position and the potential impact of this deal.

********* ***$*.* *******, ** *****, ** ***** ***************.

***, **** **** **** ***** ***** ******* ***********,********* ** ***** *******************.

** **** ****, ** ****** *******'* **********, ***** ****** ******** and *** ********* ****** ** **** ****.

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

Pyronix ********

********* * ** **** *** ***** ************ ***** ******* ******** is *** ** / ****** *** *** ****** ******** ** North *******. *** ******* *** ~*** ********* *** **** ** the ***** ** $** ******* *** ****** *******.

*** ******* ** ** ***** **********, **** ******* ********* ** video ** ****** *******.

**** ** ***** ** ******* **** *** *********, ******* ** solid *** *** ************* *** ****.

Financials *******

******* *** ***** **** **** *** **** * *****, ******* doubling ***** **** **** **** ** **** ** ~$** ******* USD, ********* **** *******. *** ******* **** ******* ***** *** ****** ** ~*%.

Acquisition *****

**** ***** **** *** ********* *** ***** ***** *******, ****** and *******, * ********** ***** ***** ** $** - $*** million *** *****.

*** *********'* ******* **** (~$* ******* ******* ** ****, **** is * ****** ***** ****).

Continued ** *************?

********* ***********'* ****** *** *** *** *** ******** ** *******, ********* will ******** **** ******* **:

********* *** ***** *** *********** ********** ** *** ** *** particularly ** *** **-***** *************, **** ***** ** ************ ****** operations.

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

***** ********* ****** **** ********* ********* ******** (****** **** ** China **** '********'), ********* **** *** **** * ****** ********* offering. ********* ******* **** ********* ****. *** ******* ************ **** as * ********* / ******* ** *** ****:

"********** *** ******** ************ ** ***** ************ *** ********* *********"

End ** *** *********

****** *** ***** *******, ********* ***** ** ***** ** ******* end-to-end *********. ******, ** *****, *** **** ** **** **** the ***** ********, **** ********* **** ** ****** ** *** users *** ******* ** ** ****.

**** *******, **** ******* ********* ** *** ********* ** **** end ** *** ********.

** *** *** ****, ********* ** ************ ****** **** ***** dealers, ** **** ***** ** * ******* ***. ** *** other ****, ***** ****** *********** **** ***** ** **** ******* / ******** *** ****** *** ***** ************ ***********.

More ** ****

** ******* **** ** **** *** ********* *** *********. ** will ** *********** ** *** ** **** ** * **** of ****** ** **** (****** ************ ***** **** **** ***) or ** ********* ** **** ******* ** *** ******, **** strategically ********* ****.

****

Comments (31)

**** ***********!!! *** * ***** ** ****** ** *******...

***** **** ****'** ******** *** *** ******** ***** *******. **** is ********* * ******** *** ****. * ***'* **** ***-**-*** control *****/****** ******* *** *** *** *** ** **** **** 99% ** ***** ********* *****.

**** - **'* **** * ***** ***** * *** ******* involved ** ******** ***** *******, *** * ****** ********* ******** sensors ***** ****** * ****** ***. * ******* **** ** the **** ****** ******* *** ********* *******?

***** * ***** ******, ** ***** ************** ***** * **** *******/***** ** ***-*******, ********** **** *** sensor ** *********.

********** ******** ** ********* **** *** ***. *** *** ****** the ****** ** **** *** ******* ******* **** *** ***** and *** ***** ** **** ******* ** *** ****** ********. This ****** *********, **** *** *** ********. *** ****** *** turn *** ****** *** ***** *** ****** ** ******** ** the ******* **** ** ****** ********** ** ********** ********** **** traditional * *** ************* **** *** **** **** ****** ***** sending ******* *** *** **** **** **** *** ****** ** disarmed

*** ** *** **** *********** **** ***** *** *** ** the ** ***** *** (** ** *********). ********* ** ***** to ******* *** *** **'* **** ****.

****** **** ** ** *** ****'* *** *** ******.

*** ******** *** **** ***** ***-*** ******** *** ***** ** the ** ********, ***. * ***** **** **** ********** ** 1-way ******** *** ***** **** *** *** **** ** ******* in ***-*** ******** ******* ***** ** * "***** ****** ******" in *** ********* *****. **** ** *** *** **** ****** on ******* ** ******** ***** ******* *** *** **** *** easy ** **.

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

*** ********** *** ** *** ********, ***** ** *** ***** knight?

** **** ** ******* *** ***** *********, ** ******?

**'* ******. **** **** ******** ** '***' ** * ******* the ***** **** ** **** **. ********* ******* ** **** their ********* *** **** ************* ***** ******** *** *** **** systems.

********* *** ***** *** *********** ********** ** *** ** *** particularly ** *** **-***** *************, **** ***** ** ************ ****** operations.

** ***** ** *** **** ****** ** ***********. **** **** got * "***********" ** ****** *** *** **** ****** **** to ** ** ***** *******. * ** ******* ** **** be ******* **** *** ***** *************.

** ** *** **** * *****. *** ******* *** * product. *** **'* **** ***** ************. *** **** **** * European **** **** *******. **** *** **** ******* ******* ** the ** *** ****** ** *** ** **** **** ** then ***** **** ** **.

** ***** ** **** **** ** ***** ****. **** **** bought * ***** **** *** ***** ****** *** ***** ** convincing * ****** ** ***** ****.

Financials *******

******* *** ***** **** **** *** **** * *****, ******* doubling ***** **** **** **** ** **** ** ~$** ******* USD, ********* **** *******. *** ******* **** ******* ***** *** ****** ** ~*%.

Acquisition *****

**** ***** **** *** ********* *** ***** ***** *******, ****** and *******, * ********** ***** ***** ** $** - $*** million *** *****.

******** **** ******** **** **% ** *.****, *** $** - 100 ** *********** ***** ***** ** */* ** ** ** 44x:

  • *** ***** ******* ******** ********* *** ******** ************ (******* ********) or ** ********* ****** * *** ******* ******* **** **** the ****? *&* *** ~*** *** ******** **** ~***, ** the **-**+ ****** **** *** * ***-****** ****** ********.
  • *** *** ***** ** *** ******* ** *********** ********* (*/* and */*) *** *** **** ****** *****? *** ********** **** (http://www.ifsecglobal.com/hikvision-to-acquire-pyronix/) ** ******* *** **** *** **** ***** ** ********.

******. ******* **** *********** *******.

*********** ********* *** ******** ********* *** ********* ** *** * - ** */* *****. * ***'* **** * ***** ** it *** *'** ******* ** ** ***** ***** ** *** past * ***** *** ****'* *** *****.

*/* ** **** ** ***** ******* **** ** **** *** not ****** ********* *** *****'* *** ** **** ******* ***** profits (********** ***** *** ******* *** ****** *** **** *** more **** *******).

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

** ** *****, * ** *** **** **** ********* ****. I ****** **** **** *** ***** **** *** ******** ********* is ************ (********* *****). ** ******* ** ********* *** ****** manufacturers (****** *** ****** ** **** *********). * ****** *-** because *******'* ********** **** ***** *** ****'* ********* *** ***** for ***** *********.

*******, * ***** *** ** ******* ** **** **** ** revenue ****** ******* ******* ********* **** ** ** ******, ** general, ** **** ********** ****** ** **** ** **** ******* companies (**** ** ****, *** **** ** ******* *** **** of, ****, ******* ** *** ******* **********). *****, **** ****, I ** *** **** **** *** **** *** **** * ever ****** **** ******* ** **** * ***** ** *** open **** ***** ** ** **** *****.

*&* *** ~*** *** ******** **** ~***, ** *** **-**+ seemed **** *** * ***-****** ****** ********.

*** ***** ********* *****.

***** *** ********* ********* ****** **** ********* *********. * ******* like ********* ** *** ***** ** ***** ******* ** **, and **** *** **** ******** *** ****** **** ** ********* corporate.

********* ***** ****** ******* ****** $*** ** **** $*** ******* (if **** ****** / ******) ****** ******* **** **** *** benefit ** ********* ******* **** *** ********* ***** *******. ** an *********** ******* ****** ** ****** **** ~$** ******* *******, how **** ******* *** ********* ******** ******* ******* ******** ******* its ********? $*** ******* ******? $*** *******?

** **** ***, ******* ******* *** *** * **** ********** on *********** *****.

********* **** **** * **** **** ********** **** ********* ** its ***** *** *** ******* ******** **********, ** ** ******** its ************.

*** *** ******* ********* **** *** ******* ********* *** *** a ****** **** *** ***** ** ******. * ****** *** on ******** ** ****** ********* *** ******** ****** ** *** Chinese **********, ***** *** ** * ******** **** *** ******, AnBang *********.

**, *********** ********, ***** ** * ******* ** *** **** Hik ***** ***** ** ************.

*** ******* ********* ******* ******* ********* *** *** * ****** **** *** ***** is ******.

*** **** ****? **** ******** ******.

** *** ****** *** **** (*) *** ***** *********** ** the **** ********, ********* ** ***, *** ** * ******* to **** * ****** ********* ****** ** *** (*) ******* companies ********* **** ** *** * ******* *** *** **** to ******* ********* ** ******** ******** ** ******* ********* (*.*.****** ***** ***********).

**** ** ****. **** ****** *** ** ****** *****. *** for ****, ******* ********* **** *** ****. ** ****, ** Q1 ****, ******* ********* ********* ******** *** ***** **** *** BN *** ** **************. ***** ****, *** ** **** **** in ****.

*** ******* *** *** **** *** **** ** ***** *************:

*) *** ***** * ** ******* **** ** **** ******* stocks ** ******** *** ***** *** ******? ******* ***** ****** has ***** *** **** ********** ** ** ********** ****.

*) *** ******* ******* ****** ** **********. ***** **** ******* a ******* ***** *** * ***-******* ****** ******** ****** ** regulatory ******** *** ************. *********** ********, * ***'* ***** ** is **** ******. ***** **** * ******* **********/****** **** * non-chinese ****** ********* ***** ****.

******, **** * ****** ** **** *** ***** ******* ******** by *** ******* *** ** ** ********** ** *** **** of ******* ***** ****** ********* *** ******* **********. *** **** that ******* **** **** **** *** ***** ******** *** **** fear ** *** ******* *** **** ** *****. *** ********* might ** *******, *** *** ******* *** *** ************* *** completely *********.

*** **** **** ******* **** **** **** *** ***** ******** the **** **** ** *** ******* *** **** ** *****.

*** ** **** ** ****** *** '******* **** **** **** the *****'? **** ************ ** ** ******** ***** **** *** to ****** ** **** ****?

* ****** ** **** *** ***** ******* ******** ** *** Chinese *** ** ** ********** ** *** **** ** ******* stock ****** ********* *** ******* **********.

*** ** ***** ****. ** ******** **** ** ******** ** U4 *** ******* **** ** - ** */* ****** ****. And ** ********, ***** * ******* *** ****** ****, ** that ** ********** **** ******** ***** *** ********* ************.

*** ** **** ** ****** *** '******* **** **** **** the *****'?

** ***.

*** ********* ********* *** ********* ** ********* *******: ***/***/******* ***** manufacturers, *********** ***/*********, ***-**-*** ******** *******, **** ******, *********** *** others.

** ** **** **** ** */*, ******** **, **/****, **/******, EV/operating **** **** ***., **** ******* ********, *********** *** ***/*** video ************* **** *** ****** *********, *-** */*;

***-**-*** ******** *******, **** ******* *** ***** **** ******* *.*-*.** P/S *********.

***/********* *** **** ****, ** *******, *** ******* *********, *-** or **** ****** */*.

*** ***, * **** * ***** ********* *** *&* ***** (public ** *******) ** *** ******** ******** ******** ** *** last ** *****. *** ***'* ***** ** ** ***. ***. Feel **** ** *** ********* ****.

*********** *** ***/*** ***** ************* **** *** ****** *********, *-** P/S;

**** *** ********** ***** **** ** ** ****** **. *** example,*****/*********** ******* ***** **.******* / ************ **** **** **. *******/******** ***** **.

** *** ** ********** ** *** ** ********. **** **** M&A **** *****, **** * ********** ** *** ************ ***** the */* *** *.* ** ******?

**** *** *****, ****, ********** ***** **** ** **** *** lowest *********. **** **** ***** **. *.*-** ***** ** **** suitable *** ***********.

********** - ******; ******* - ********** *. *** **** **.

*** ** ******* ****** ************* **** ** **** *-*.** *********. 1.5X ** ****, *** ** ** *** * ***. *******, for ********, *** * *.*** *********. *** *** ***** ***** Mobotix ** **** **** ** ******* ******.

*******, ** *** ********, **** **** *******: ****** *********, *************, RMR *** ******* ***** ** *****, ********* *** ******* ******** valuation. *** ****, *** ***** ** *** ******** ****** ************* as *** ******* *** *** ***** ** *** ********.

***** *** ***** **** *** **** *** **** *** *****: Exacq, *********, ************, ******, *****, *******? */* *** */* ** you **** **.

***** **** ** **** ** ** *******. * *** **** of ***** ***** ****** ** **** ** ***** ********** *** was ****** **** **** **** ******* **** **** *******. **** like **** ****, **** *** ******* ******* **** ***** ******* so *** ***. ** **** ******** ** *** ***** ******** by ************ *** **** *** **** ******* **** **** ** on ***** ***** ************ ********, **** ***** ******* *** ***** industry.

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

*** ***** *** *** ***** **** ** ********* *** *** a ******* **** ** **** * ****** **** **** ** the *** *** **** ** ***** *** ********* ********.

****,

********* ********* ********** ****** *** ***** ** ******* *** **** **** *******. **** ** ****, **** *********'* presence ** *** ** *** ***** ******* *** ***** ******* questionable, ** *** * *** ** *****.

***, **** ********* ** ****** ********** ** *** **, ** makes * *** **** *****. ** * *** ********* *** was ***** ** *** * *** ******* *****, *'* ** for ******** (**** *'* ** *** ******* *****, *** **** would ** * **** ****** ** **** ** *****).

****,

* *** ******* ** *** ***** ******* ** ****.

* ***** **** *** **** ******** ***** ** ** **** target ***** *** *** **** ***** ********** *** **** ***** foot **** **** **** ***** *** ** ****** ****** **** the *** ******.

*** ***** **** *** ****** **** *** **** ** **** cash.

****** / ****** ***** ** * ******* *********** ** **** are *** ****.

* ***** ***** *** *** ***** ********** **** ********* *** in ***** *****.

*** ******* *** **** **** ****** *** ********.

**** ******* ***** ************* ********* **** ** *** * ** 10 ***** ****** *****. **** ***** **** ****, *** **** awhile *** ***'* ******* ** ******* ****. **** ***** *** Radionics, **** **.** *** **** ******* **** ** ******* *** 8 ***** *******.

** ********* ***** ** *** ** *** ** ** ** view, * ***** ** *** ***. ******* ***** ******** ***'* sell ******* *******, ***** ****** **** ***** ******** **** ******** reset, * **** **** **** ****** ******* *****. **** **** a ******* ******* ** *** **???

***** *** *** **** **** ***** ** *** **** *** I *** ** ****** *** ******* ** ** **** **** are ***** **** **** **** ****. ** ** *** **** to **** ****** *********.

*** ***** ** *** ***** ***. * ***'* ***** **** would ****. ** **** ***, *'* ** *****.

********* ***** *** ****** * ***** ******* ** *** ****. *** ******** ** ********** *********, ******** **** ** ********** how ** ***** *********'* ******** ******, *********** *** ******* **** help ** ************ *** ********* ** ******.

**** ** * **** ** *** ****** ********** *******:

********, ******** ********* ******* ********** **., ***. (*********** ******** ** as "*********") ******** *** ******* ******* ****** ******** ******* (*********** referred ** ** "***"), **** ***** **** ********* ********, *** became *********** ********* * ****** ***** **********.

*** **** ******* *****, ***** *** * **** ********** ** Europe.*** **** ******** ******* ****** *********, ******* *********, ******* *****, wired *** ******** ******** *******, *********** ******** *** *** ***** services.*** ** *** ** ****** ****** ** ********* *****, ****** great ********** ** ********** *** ******* **********, ******* ********** ********* to ******** * ***** ********** ** *********.*** *** ************ ** *** ****** ******* *** *** ******** Union ** ******* ******** ********* *** *** ******** ****** **** a **** ************* ** ******** ***********.

*** ***** ******* ***** ** *********, **** ****** ********** *** complete ********* ****** ***** ****** ******* ****, *** *********** *** be *** ***** *********** ** ******** *** ************, ** ****** the ******** ******* ****** *********, ******** *** ****** ******** ***** field ** ********** *** ******* ********, ***** ********* * & D ************ *** *************** ********* ***** ********.*** ********* ** *** ******** ****** *********, ********, ******** *** brands, ***., **** ****** ******* ******* ******** ******* ********* ****** support.

**** *** **** ******, ********* ******** ****** ** *** ****** market, *** ********** ******* *** ************ ******** ** ********, ****** the ******* *** ******* ** ************ ******** ******** *******, ********* brand *** **** ********** ** **** *** **** *********.******* **** ***********, *** ******** * & * **** *** production ******** **** ** ********* ******** *** *********** ******* *** supply ***** *********** ******* *******, *** ******* ******* *** ** R & * ******* *** *** ******** ** ********** ** the ****** ***** ** ******.************ ***** * & * *** ****** ******** ** ******* important **** ********* ************ ******** **** ******** ** ******* *** company's ************ ******* ************ *** ****** ***************, ******* ********* ** achieve ******* ****** *********** ** *** ****** ********* ********.

*******'* ***** ** *****, *** *** ********* **** *** *** matching ***:

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Related Reports

Milestone Favorability Results on Dec 06, 2016
In our second installment of manufacturer favorability results (first was Pelco), we turn to Milestone. 100+ integrators rated and explained what...
FLIR Acquires Drone Manufacturer For $134M on Dec 01, 2016
FLIR has acquired Prox Dynamics, a Norwegian maker of small military-grade drones, for $134M.  FLIR president Andy Teich provided additional...
Intrusion Motion Sensors Tutorial on Oct 04, 2016
Motion sensors are one of the most common, and most useful alarm sensors, but they also often cause problems. Many motion sensors types exist and...
FLIR Buys Point Grey For $253M on Oct 04, 2016
FLIR's acquisition streak continues, announcing an acquisition of Point Grey Research for $253M in cash. Other notable FLIR deals include: FLIR...
Hiring Spree At Aimetis 6 Months After Being Acquired on Sep 28, 2016
Aimetis was acquired in April 2016, and is now expanding almost all of their departments, hiring employees from Axis and other industry...
You Get Robbed, Canary Will Pay You Up To $1,000 on Sep 22, 2016
Canary is trying to break the status quo in DIY security, first by raising over $40 million, and now a revamp of their monthly services package...
1 New Acquisition Per Year Planned for Qognify (Former Nice Security) on Aug 23, 2016
Want to be acquired? Qognify, the former Nice Security Group, has big money behind it and the plans for multiple acquisitions. In this note, we...
VMS Developer Lensec Acquired on Aug 10, 2016
Independent VMS companies have been popular acquisition targets in the security industry the past few years (with Tyco acquiring Exacq, Canon...
Bosch Intrusion Detection Profile on Aug 10, 2016
This is a first in a new IPVM series profiling intrusion detection / alarm offerings. In this series, starting with Bosch, we examine: Key...
Intrusion Sensor Selection guide on Jul 21, 2016
When designing intrusion systems, a number of sensor types can be selected, including: Magnetic Acceleromteter Glass Break PE/PIR/Laser...

Most Recent Industry Reports

Knightscope - $122,509 Revenue, $2.5 Million Loss Seeks $20 Million Investment on Dec 09, 2016
The robot that ran over a child, Knightscope, wants money and they need it. Investors can invest as little as $1,000 to participate and...
'Solution' Manufacturers Threaten Integrators on Dec 09, 2016
The race to the bottom has driven manufacturers to become 'solution' providers, threatening integrators. Axis shift to 'solution' sales might be...
The Russian SMP Security Robot on Dec 08, 2016
A Russian manufacturer, SMP, has a commercially available outdoor security robot, at a lower price and with much less marketing than their main...
How Hikvision Beats Its OEMs on Dec 08, 2016
Hikvision GM declared that they are not aggressive with their competitors. But some of their own OEM partners disagree. Inside, we reveal a key...
Dahua Discontinuing H.264 Only Products on Dec 08, 2016
Dahua has taken a stand for H.265 and is discontinuing its H.264 only products. We examine the shakeup inside this...
IP Networking Course January 2017 on Dec 08, 2016
This is the only networking course designed specifically for video surveillance professionals plus it includes live training, personal help and...
Hikvision vs Dahua Mobile Apps Tested on Dec 07, 2016
With smartphone use and low-cost video recorders surging, many user's main interface to their surveillance system is their phone. With mobile video...
Paxton Drops US Reps, Plans Major Expansion on Dec 07, 2016
Paxton is gearing up to make a big run at  US access control success. The first step they have made is to cut all US Rep Firms, in anticipation of...
Axis Partner Elder Care Video Analytics (Smartervision) on Dec 07, 2016
Can video analytics be used to improve the care of the elderly? Axis and a video analytics startup, Smartervision, are working together to do so....
Sony IP Camera Backdoor Uncovered on Dec 06, 2016
A backdoor has been uncovered in ~80 Sony IP camera models, attackers can remotely enable telnet on the camera, and then potentially login as root,...

The world's leading video surveillance information source, IPVM provides the best reporting, testing and training for 10,000+ members globally. Dedicated to independent and objective information, we uniquely refuse any and all advertisements, sponsorship and consulting from manufacturers.

About | FAQ | Contact