ICx Company Profile

By: John Honovich, Published on Aug 15, 2010

This note overviews ICx's product offerings and financial breakdown, including an analysis of their video analytic and PSIM products. In August, 2010, FLIR acquired ICx at a valuation of $236 Million (acquisition price of $274 Million - $38 Million cash in bank).

In the 12 months prior to the acquisition, ICx's revenue was approximately $160 Million, setting the Price to Revenue ratio at just under 1.5x (low comparatively for the industry).

Reporting H1 2010 results, ICx revenue dropped over 16% compared to H1 2009 (from $92 down to $77 Million).

ICx reports on 3 main business segments. The March 2010 ICx Company Overview (Note: 26 MB) breaks down the positioning of each unit and the 2009 ICx Financial Report provides financial details.

  • Detection: The largest of the 3 segments, this includes chemical, biological, radiological, nuclear and explosive detectors (CBRNE).  2008 total revenue was $91 Million with $55 Million from products and the remainder from contract R&D.
  • Surveillance: ICx offers a variety of IR, microwave and millimeter products. 2008 revenue was about $50 Million with half deriving from product sales and $16 Million from services.
  • Solutions: The smallest of the 3 units, this includes ICx's Cameleon PSIM offering and a variety of other software packages. 2008 total revenue was $28 Million but only $8 Million came from products while the remainder was from services.

Video analytics, acquired from Puretech in 2007 for $3.25 Million (disclosed in 2009 report), is being sold. As the company notes, "In the third quarter of 2009, the Company’s Board of Directors adopted a plan of sale and put the assets of PureTech Systems, Inc. (PureTech), a unit in the Solutions segment, up for sale, as the business model of thisunit no longer aligned with the strategic plans of the Company. In conjunction with this plan, the Company recognized a loss on discontinued operations of $2,940,803 in 2009."

While the company's plan were to expand solutions (using offerings such as PSIM and video analytics), the low revenue and willingness to discontinue Puretech are good signs of the challenges in executing this approach.

1 report cite this report:

Investments & Acquisitions Directory 2011 on Dec 26, 2010
This directory provides a single source of information on funding and acquisitions in the video surveillance market. It is part of our Video...
Comments : PRO Members only. Login. or Join.

Related Reports

Directory of 68 Video Surveillance Startups on Sep 18, 2019
This directory provides a list of video surveillance startups to help you see and research what companies are new or not yet broadly known. 2019...
Uniview Prime Series 4K Camera Tested on Sep 18, 2019
Is the new Uniview 'Prime' better than the more expensive existing Uniview 'Pro'? In August, IPVM tested Uniview 4K 'Pro' but members advocated...
Panasonic 4K Camera Tested (WV-S2570L) on Sep 13, 2019
Panasonic has released their latest generation 4K dome, the WV-S2570L, claiming "Extreme image quality allows evidence to be captured even under...
Yi Home Camera 3 AI Analytics Tested on Sep 10, 2019
Yi Technology is claiming "new AI features" in its $50 Home Camera 3 "eliminates 'false positives' caused by flying insects, small pets, or light...
WDR Camera Mega Shootout 2019 - Avigilon, Axis, Bosch, Dahua, Hanwha, Hikvision, Panasonic, Vivotek on Sep 04, 2019
This is the biggest WDR Shootout ever, with 23 cameras from 8 manufacturers: We included true multi-exposure WDR and non-WDR models, ranging...
Uniview Pro 4K Camera Tested (IPC3238ER3-DVZ) on Aug 29, 2019
In our 8MP / 4K Fixed Lens Camera Shootout, Uniview's low end 8MP was firmly in the middle of the pack. Does their higher end Pro Series 4K camera...
Wyze Image Quality Tested vs Axis, Hikvision And Nest on Aug 27, 2019
With Wyze's new AI feature, it is strong at analytics, but how good is the camera's image quality? Is it just as good as incumbents like Axis,...
Anyvision Facial Recognition Tested on Aug 21, 2019
Anyvision is aiming for $1 billion in revenue by 2022, backed by $74 million in funding. But does their performance live up to the hype they have...
Dahua 4K Camera Shootout on Aug 20, 2019
Dahua's new Pro Series 4K N85CL5Z claims to "deliver superior images in all lighting and environmental conditions", but how does this compare to...
Axis 4K Camera Shootout 2019 on Aug 14, 2019
Axis' 4K Q3518-LVE claims the "best video quality possible", with Lightfinder super low light performance, Axis' high end Forensic WDR, and...

Most Recent Industry Reports

ONVIF Suspends Huawei on Sep 20, 2019
Huawei has been 'suspended', and effectively expelled, from ONVIF so long as US sanctions remain on the mega Chinese manufacturer. Inside this...
Open Access Controller Guide (Axis, HID, Isonas, Mercury) on Sep 19, 2019
In the access control market, there are many software platforms, but only a few companies that make non-proprietary door controllers. Recently,...
Axis Perimeter Defender Improves, Yet Worse Than Dahua and Wyze on Sep 19, 2019
While Axis Perimeter Defender analytics improved from our 2018 testing, the market has improved much faster, with much less expensive offerings...
Directory of 68 Video Surveillance Startups on Sep 18, 2019
This directory provides a list of video surveillance startups to help you see and research what companies are new or not yet broadly known. 2019...
Uniview Prime Series 4K Camera Tested on Sep 18, 2019
Is the new Uniview 'Prime' better than the more expensive existing Uniview 'Pro'? In August, IPVM tested Uniview 4K 'Pro' but members advocated...
US Army Base To Buy Banned Honeywell Surveillance on Sep 17, 2019
The U.S. Army's Fort Gordon, home to their Cyber Center of Excellence, has issued a solicitation to purchase Honeywell products that are US...
Vivotek "Neural Network-Powered Detection Engine" Analytics Tested on Sep 17, 2019
Vivotek has released "a neural network-powered detection engine", named Smart Motion Detection, claiming that "swaying vegetation, vehicles passing...
Schmode is Back, Aims To Turn Boulder AI Into Giant on Sep 16, 2019
One of the most influential and controversial executives in the past decade is back. Bryan Schmode ascended and drove the hypergrowth of Avigilon...
Manufacturers Unhappy With Weak ASIS GSX 2019 And 2020 Shift on Sep 16, 2019
Manufacturers were generally unhappy with ASIS GSX, both for weak 2019 booth traffic and a scheduling shift for the 2020 show, according to a new...