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 [link no longer available] 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 [link no longer available], ICx revenue dropped over 16% compared to H1 2009 (from $92 down to $77 Million).

ICx reports on 3 main business segments [link no longer available]. The March 2010 ICx Company Overview [link no longer available] (Note: 26 MB) breaks down the positioning of each unit and the 2009 ICx Financial Report [link no longer available] provides financial details.

  • Detection [link no longer available]: 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 [link no longer available]: 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 [link no longer available] offering and a variety of other software packages [link no longer available]. 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 [link no longer available]), 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...
Comments : Members only. Login. or Join.

Related Reports

Cisco Acquiring Fluidmesh on Apr 09, 2020
Cisco announced it is acquiring niche wireless manufacturer...
USA's Feevr Thermal Temperature System Examined on Mar 31, 2020
This US company has burst on to the scene, brashly naming itself 'feevr' and...
Anyvision Presents AI Facial Recognition and Mask Detection on Jun 08, 2020
AnyVision presented its AI facial recognition and mask detection at the May...
New: Mobile Access Proxy Releases 'World's Smallest Mobile Reader' on Mar 04, 2020
Mobile access provider Proxy claims its new Nano is 'the world’s smallest...
Camera Resolution Usage Statistics 2020 on Mar 12, 2020
The average resolution used, for new cameras, is now 4MP, according to new...
Fever Camera Sales From Integrators Surveyed on Jun 01, 2020
Fever cameras are the hottest trend in video surveillance currently but how...
Camio Presents Coronavirus Social Distancing Analytics on Apr 20, 2020
Camio presented its social distancing analytics for responding to coronavirus...
ADI Sales Down 21% in April on May 14, 2020
ADI sales were down 21% in April, the company disclosed, as the pandemic hits...
Hikvision Global Revenue Falls, Hit By Coronavirus on Apr 27, 2020
Hikvision's global revenue fell in the first quarter of 2020 due to the...
Wyze Fails To Deliver Own On-Board Analytics, Launches Novel Name Your Own Price Service on Jul 24, 2020
While Wyze failed to deliver their own onboard analytics to replace the...
TVT / InVid White Light Camera Tested Vs Hikvision ColorVu on Mar 18, 2020
With mega China manufacturers Dahua and Hikvision facing both bans and human...
Sunell Panda Cam Body Temperature Measurement Camera Tested on May 14, 2020
Sunell is far less well known than its gargantuan domestic competitors Dahua...
JCI Slashes ISC West Booth 88.8% on Mar 05, 2020
The mega-booth at the main entrance of the ISC West show floor is now...
TVT / InVid Facial Recognition Tested on Mar 25, 2020
Facial recognition is frequently sold for thousands of dollars per channel...
PSIM CNL Acquired By Everbridge on Mar 09, 2020
The end has finally come for CNL. Despite for years saying they would...

Recent Reports

Huawei HiSilicon Shortage Impacts Surveillance Manufacturers on Aug 14, 2020
Huawei acknowledged problems and challenges for its HiSilicon chip business,...
Final Rule Does Not Expand Hikvision Dahua Blacklist on Aug 14, 2020
The final White House rule (200.216) has been added and contrary to the...
Taiwan Lilin NDAA Compliant Cameras Tested on Aug 13, 2020
Taiwan-based manufacturer Lilin is taking direct aim at Dahua and Hikvision...
White House Expands Dahua Hikvision Blacklist To Federal Funding [Final Rule Reverses] on Aug 13, 2020
The White House is expanding the NDAA to blacklist anyone who "uses" banned...
Actual Coronavirus Testing Options Examined on Aug 13, 2020
Fever cameras have emerged as an indirect and flawed way to test for...
Video Analytics Online Show September 2020 Opened - Axis, Avigilon, Bosch, BriefCam, Genetec, Milestone + 30 More on Aug 12, 2020
IPVM's sixth online show will feature 35+ Video Analytics companies...
The German Company Powering Many China Temperature Tablets (Heimann) on Aug 12, 2020
Many fever tablet suppliers market German-made Heimann thermal sensors while...
Salesforce Drops Dahua and Hikvision on Aug 12, 2020
Salesforce has dropped Dahua and Hikvision as customers, forcing the two mega...
Access Control Course Fall 2020 - Register Now on Aug 12, 2020
IPVM offers the most comprehensive access control course in the industry....
Genetec CEO Declares "We Don't Negotiate Payment With Patent Trolls" on Aug 11, 2020
Are patent trolls like terrorists? Genetec's CEO is coming out strongly...
Hanwha AI Analytics Camera Tested on Aug 11, 2020
Hanwha has released their Wisenet P AI camera, adding person and vehicle...
Alabama Schools Million Dollar Hikvision Fever Camera Deal on Aug 11, 2020
The Baldwin County, Alabama public schools purchased a $1 million, 144-camera...
Dahua Taunts Australian Government, Continues To Sell Illegal Fever Cameras on Aug 10, 2020
Dahua is effectively taunting the Australian government by continuing to sell...
HID Releases VertX Replacement Aero on Aug 10, 2020
HID is replacing two established and broadly supported types of access...
NDAA Compliant Video Surveillance Whitelist on Aug 10, 2020
This report aggregates video surveillance products that manufacturers have...