Mirasys Main Shareholder Now A Distributor

By Zach Segal, Published Feb 10, 2021, 09:41am EST (Info+)

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 ********

****************** ****** ****** ***** *********** ** *******, ** * **** ** *********** size. ******* **** **** **** *** was ******* *** * ******* ** invest ** *** ******* ****** ***** to **** ******* ******. ** ********, Mirasys **** ** ** * ****** to *****-****/******* **** *****'* ********. ******* said *** ** *** * ******** shareholder *** ***** *** ********* ******* how *********** * *********** *** ***.

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

********* * **-****-*** ******* *** ******* that *** ***** ****** * ***** VMS ******. ******* *** ******* ** 1996 *** ***** ************* ** ***** *******. ******* **** **** **** ******** ******, *** ** ********* *** ********** ran ******* ******, *** ******* ** as *** ** **** ** *********** the ******* *** **** ** **** a ****** *******. ** **** ** this ******, ******* **** **** **** are ******** ** ********* ** ************* markets ** ******** ******** ************. **** say **** ***** ********* ***** ************ and ****** ********* **** **** *** different ***** ** ********* ** ********* regions. ******* **** ********** **** *** working ** ****** **** ******** ******** to ***** ***-***** ** ******* **** information **** ***** ******* *** ** improve ******** ******.

Financials ** *******

*******' **** ******* *** ~* ******* euros (~$*,***,***), **** ~*/*** **** **** with * **** **** ** ~$***,***, per******* **** ******************** ***** **** ************** **** ********.

******* *** ************ **** ** ********** people****** ** *************** **** ****** **** *** **** two *****:

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*******'* **** ********** ******* ************* ** sell ** ** **.*% ** ******* for *,***,*** ***** (~$* *******). **** would ***** *** ******* ** ~** million *****/~$**.* *******. *******, ******* **** IPVM **** ** *** *** ******* and ********* ** *** *** **** though **** *** *** ******* **** was *** *** **** ******* *** valuation.

Financials ** ***

*** **** ******* *** ~**.* ******* euros ******* (~$**.* *******) **** ***** margins ** ~**.*% *** *** ****** margins ** *.*%,*** *** **** ************** ********. *** *********** *********, *** is ****** *****, **** **** ***** distributors ***** ***** **** ** ******** in ******* *** ***** ******** ************ doing **** **** * ******* ** revenue.

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

******* ** ******** ******** * '**** ****** **** *******'. **** *** **** *** ******** on **** *** ********* ** ********* can ** *********, ******* ** ********.******* **** **** *** ********* ********* *********** *** "*** ******* ***** *********** [* ********]*******". ******* **** ***** **** **** are ******** ** ****** *****-***** *********, new ***** ******* *******, ********** *** analysis, ******** **********, *** ******* *** end-users ** ***** ***** *** *********, mobile *** ***** **********, *** ****** maps, ***** **** ***** ********.**** ***** * *** ** *********** work **** **** *** ** **** or ***********.

*** **** *********** ***** **** ************ from *******:

*******, ***** ******** *** ******* ******* by****** *********** **** **** **** ****** R&D ***** *** ******* ** ******* these ********.

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

****** * *********** '**** ***********' ***** present ********** *** ***** ************ ** carry *******. **** ****, *** ** such * ***** *********** **** **** may *** ** * ***** ******* for ***** ************ *** *** ***** are ********* *** ****** ** ************.

*******

*** ******* *** **** *** ****** may **** ******* ******* ***, ** 2021, ******* ***** *********** ************* ** lack ** ***** *** **** ** cloud *** ***** *********.

Comments (4)

Undisclosed Manufacturer #1

02/10/21 05:09pm

***** *******. **** ** ****** **** the ******* ***** ***, ***** **** things * ***** *** ****** * didn't. ** *** * ****** **** interface *** **** *** **** **** features, ********* **** ****** ********* **** heat *******, **** **** *********. *** it *** **** ****** ** **** with ** **** ****; *** ****** process *** ********* ********** *** ** was *** ******** **** *** ******* making *** *********** **** *** ********, with **** ******* ******** ************ "** works *** *** ** **** ** should **** *** *** ******** ****** know ******." ****** ** ** **** me!

*** * ****** **** ** *** potential ** ****** ** **** *** wanted **** ** *******. * ***** want **** ** *******, **** **** good ****** *****. * ***** ******** their ******** **** **** *****. **** smaller **** * ***** *** ******* like **. ***** ** ****** *** our *** *** *******... *** ******* capitalists **** ** ** ** **** me? 😁

Agree: 1
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Undisclosed Manufacturer #2

02/10/21 05:26pm

* ***** **** ** *** *** to **** **** ****** **** ** Mirasys *******. ******* ********* **** ***** a *** ***** ** **** *** they ***** *** **** ***** *******.

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

Agree
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Informative: 1
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Zach Segal

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

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

** *****'* ************ ****. ** *** hand, **'* *** * **** ****** of ***** **** ** *****, ***, on *** *****, **'* **** *** to * ******* **€.

Agree
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Undisclosed Integrator #3

02/11/21 08:24am

**'** **** ******* ** *** **** for * ***** ******. ***+ *****, their *** *** *** **********. ******* was **** ** ***** *** ********. On *** ***** ****, **'* ******** were * ****. ******* *** ****** non ********. ******* ** ***** *******, it's ** ****** **** **'** ** bumped **** **** *** ******* *** another ***. **** ******** *** **** for ***** **** ** ******* ****. They ****'* **** ** **** **** the ****** *** *** **** ****** they *** *** **** **********. ****, by ******* **** *** ******* *** can **-*** * ******* ********* *****. What **** ** ******** ** ****?!

- *** *************- ******* ****- *********

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Informative: 3
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