Mirasys Main Shareholder Now A Distributor

By Zach Segal, Published Feb 10, 2021, 09:41am EST

Finland-based Mirasys is one of the oldest VMS providers but it has never become a major player. Now, in an atypical move, a distributor has become a 'main shareholder'.

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Inside this note, we examine the move, review the financials of both Mirasys and the distributor and look at Mirasys's challenges in an attempt to become a self-proclaimed 'deep vision data company', including talking with Mirasys CEO Erich Kusuki.

Deal ********

****************** ****** ****** ***** *********** ** *******, ** * **** of *********** ****. ******* told **** **** *** was ******* *** * company ** ****** ** and ******* ****** ***** to **** ******* ******. In ********, ******* **** it ** * ****** to *****-****/******* **** *****'* products. ******* **** *** is *** * ******** shareholder *** ***** *** otherwise ******* *** *********** a *********** *** ***.

Mirasys ******* ********

********* * **-****-*** ******* VMS ******* **** *** never ****** * ***** VMS ******. ******* *** founded ** **** *** is*** ************* ** ***** Finland. ******* **** **** that ******** ******, *** ** ********* and ********** *** ******* Brazil, *** ******* ** as *** ** **** to *********** *** ******* and **** ** **** a ****** *******. ** part ** **** ******, Mirasys **** **** **** are ******** ** ********* to ************* ******* ** creating ******** ************. **** say **** ***** ********* local ************ *** ****** solutions **** **** *** different ***** ** ********* in ********* *******. ******* also ********** **** *** working ** ****** **** advanced ******** ** ***** end-users ** ******* **** information **** ***** ******* and ** ******* ******** making.

Financials ** *******

*******' **** ******* *** ~3 ******* ***** (~$*,***,***), down ~*/*** **** **** with * **** **** of ~$***,***, ********** **** ******************** ***** **** ************** **** ********.

******* *** ************ **** 44 ********** ************ ** *************** **** ****** **** the **** *** *****:

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*******'* **** ********** ******* authorization ** **** ** to **.*% ** ******* for *,***,*** ***** (~$* million). **** ***** ***** the ******* ** ~** million *****/~$**.* *******. *******, Mirasys **** **** **** is *** *** ******* and ********* ** *** FSM **** ****** **** did *** ******* **** was *** *** **** percent *** *********.

Financials ** ***

*** **** ******* *** ~14.5 ******* ***** ******* (~$17.5 *******) **** ***** margins ** ~**.*% *** net ****** ******* ** 2.8%,*** *** **** ************** ********. *** *********** standards, *** ** ****** small, **** **** ***** distributors ***** ***** **** of ******** ** ******* and ***** ******** ************ doing **** **** * billion ** *******.

'Deep ****** **** *******'

******* ** ******** ******** * '**** ****** Data *******'. **** *** **** are ******** ** **** and ********* ** ********* can ** *********, ******* of ********.******* **** **** *** working** ********* *********** *** "*** ******* ***** *********** [* customer]*******". ******* **** ***** term **** *** ******** on ****** *****-***** *********, new ***** ******* *******, dashboards *** ********, ******** collection, *** ******* *** end-users ** ***** ***** own *********, ****** *** Linux **********, *** ****** maps, ***** **** ***** features.**** ***** * *** of *********** **** **** will *** ** **** or ***********.

*** **** *********** ***** this ************ **** *******:

*******, ***** ******** *** already ******* ******** *********** **** **** much ****** *&* ***** and ******* ** ******* these ********.

Challenges ** *********** ***********

****** * *********** '**** shareholder' ***** ******* ********** for ***** ************ ** carry *******. **** ****, FSM ** **** * small *********** **** **** may *** ** * major ******* *** ***** distributors *** *** ***** are ********* *** ****** by ************.

*******

*** ******* *** **** CEO ****** *** **** Mirasys ******* ***, ** 2021, ******* ***** *********** disadvantages ** **** ** scale *** **** ** cloud *** ***** *********.

Comments (4)

Undisclosed Manufacturer #1

02/10/21 05:09pm

***** *******. **** ** worked **** *** ******* years ***, ***** **** things * ***** *** things * ****'*. ** was * ****** **** interface *** **** *** many **** ********, ********* some ****** ********* **** heat *******, **** **** important. *** ** *** also ****** ** **** with ** **** ****; the ****** ******* *** painfully ********** *** ** was *** ******** **** for ******* ****** *** connections **** *** ********, with **** ******* ******** stubbornness "** ***** *** way ** **** ** should **** *** *** customer ****** **** ******." Holler ** ** **** me!

*** * ****** **** it *** ********* ** really ** **** *** wanted **** ** *******. I ***** **** **** to *******, **** **** good ****** *****. * never ******** ***** ******** were **** *****. **** smaller **** * ***** fry ******* **** **. Maybe ** ****** *** our *** *** *******... Any ******* *********** **** to ** ** **** me? 😁

Agree: 1
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Undisclosed Manufacturer #2

02/10/21 05:26pm

* ***** **** ** see *** ** **** more ****** **** ** Mirasys *******. ******* ********* have ***** * *** money ** **** *** they ***** *** **** shown *******.

******** ******** -***€ ***** the *****.

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Zach Segal

IPVM | IPVMU Certified | In reply to Undisclosed Manufacturer #2 | 02/10/21 05:34pm

******** ******** -***€ ***** the *****.

** *****'* ************ ****. On *** ****, **'* not * **** ****** of ***** **** ** years, ***, ** *** other, **'* **** *** to * ******* **€.

Agree
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Undisclosed Integrator #3

02/11/21 08:24am

**'** **** ******* ** the **** *** * large ******. ***+ *****, their *** *** *** monitoring. ******* *** **** to ***** *** ********. On *** ***** ****, it's ******** **** * mess. ******* *** ****** non ********. ******* ** these *******, **'* ** wonder **** **'** ** bumped **** **** *** dropped *** ******* ***. This ******** *** **** for ***** **** ** license ****. **** ****'* keep ** **** **** the ****** *** *** good ****** **** *** not **** **********. ****, by ******* **** *** address *** *** **-*** a ******* ********* *****. What **** ** ******** is ****?!

- *** *************- ******* mess- *********

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Informative: 3
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