Qognify (ex-OnSSI / NICE) Acquired by Hexagon
4 years ago, Qognify acquired OnSSI, pitching an exciting future. Now, Qognify itself is being acquired after struggling for the past few years.
In this note, we examine the deal and the acquirer, Hexagon (who also owned Leica - BLK247 LiDAR / Thermal / System Tested), and how the Swedish company is expanding into video management systems.
Qognify **********
******* *** * ****-** ** ******-**** VMS ********.******* *** ******* ** **** **** NICE******* *** ***** ************ ********, ******* it ** * ** **** *** $85 ******* **** + $** ******* in **********. * ***** *****,******* ******** *****, ***** ****** *********** ****** ** ****. *** ******* ****** ** ***** deals *** *** ********** ** *** VMS ******, *** **** ** *** NVR *********, *** *** *** ******** of *** *****. ******* *** *** top-tier ** *** ** *****.
*** *** **** *** *****, ******* has *********, *** *******, *** ** line **** *******'* ******* ********* *********, per ********:
******* *** ***** *** ********* ****, the *******'* ***** ** ********* ****** Israel (***** **** *** *****), *** US (***** ***** *** *****), *** Germany (***** ****** *** *****), *** LinkedIn:
Hexagon ********
******* ** * ******** ****** ******* (*****) **** ****** * ***** ***** of ********** ************, ********* ***/*** ********, mining/drilling ********, *** *******, **** *********** platforms, *** ********* **********. ** ** headquartered ** ****** *** ******* **** 22,000 ********* ********. ******* ** ****, Hexagon *** ******** **+ ********* **** the **** ** *****, *** ***** 2020 *** ********* ********* ******** ********* with *** **** ******.
******* *** * ****** *** ** ~$27.7 ******* *** *********** $*.** *** ******* ** ****. *******, **** ** *** ****** growth *** **** ******* ************, **** less **** **% ******* ******.
**** **** ******* ******** ******** *********, though ****** **** ******** ******** $*.** *** (***** ****** ***** ******), *** ** **** ************ ********** *** $*.**, ***** ********* * **** **** eventually ****** ************* ******** *****. *******'* ****** ************** ******** *** generally ****, *** ******* *********, *** government/industrial ************:
***** **** ******* **** *********** *** auditing, ****-**** ***** **********, *** ******* operations:
Announcement ******
*** ******* ***** ***************** ********* ******* ******* *** ******** (i.e., **********) *** *******:
*** ******* ******* ********** **** ***** utility ******** *** *********** ******** ** complex ********** ********** - *** **** customers **** **** ******* **** *******'* computer-aided ******** (***) *********
**** ******* ******** ** ******* *******'* VMSes ** ***** ***********:
*******'* ********* *** * ******* ********* of *** ****** ****** *********, ****** comprehensive *** ******* ********** ***** ************ that *** ******* ***********, ********** *** investigators **** *** ****** ** ************ to ***** *** ******* ***** ***********.
**** **** ********* ***** "*****-**** ************* for [*****] *****-******* ***** *** ****** of ******* ******* *******." *******, ***** *******, *** *********** *** ******* disappointing, ********** ***** *** **** **** price *** ******* *****. ** ********, though, **** *** ************ ** *******'* VMSes.
€50 ******* ******* *********
*****, ******* ******* **** ** ******** next ****'* ******* ** **, *** not **** **** ****'* (****** ****) or **** ****'* ******* **.
*******'* **** ******** *** ******** ** be **** **** ** ****.
**** ** *** * *** ** revenue *********** ** ********** *** *********** of * *****, **** * ********* companies. ****, ***** **** ***** ** report (*******) **** ****'* *******, ** expect **** ****'* ******* ** ** track ** ** ************* ***** (** else **** ***** **** **** ******** this ****'*). ****** ***, ** ** not ****.
Fit ****** *******
******* ** *** * **** **** of * ******* *********** **** **** not **** * ****** ***** ** background ** ***** ************ *** ******* has *** **** ********** ******* *** guard **** ********** *** ************ **** PSIM *******.
***** ******** ******* (*** *****) **** Hexagon ** ******* **** ** ******** of ******* ** ** ****** **** for *** **** *** **** *********, Qognify ** *** ********** **** *** government ***** ************ ******** ** ********, Genetec, *********, ***, *** ** ** clear *** *** *********** **** **** Qognify ******.
*******, ** ******* *** ** ******* and ******* ******** ***** *** ******* and ******** ** *********. ** **** update *** ****** ** **** *******.
**** ** *** ***** **** ************ like ****, *** **** ********* ****** up **** *** *** ****** ** disruptive ** *** **. ******* ***** a **** **** ***** **** *** all *** ******* *** **** ******* seen, *** **** **********.
********, ** *****'* **** **** ****'** even ********** ** ***** ******** **** Ocularis **** ******/******* ***. **'* *** just ****** **** * ********* ****. RIP, ********.
*****'* ******** (*** '********** ***' ***** by *** *** ****** ******) **** the ********* ********* ******...
**** ********* *** *** ****** ** future ********* *** *****, **** *** no ****** *** ** *** ** Europe ** **** ** ******* (** the ** ** *****) ********* ****** - ******.
**** ******* *****, ******* - * company ** ***** **** ******** ** Pearl ***** - ****** *** ******/******** OnSSI *** ***** ** **** ********** together **** *** ***** ***** ***** using ***** **** ******* *** ******* of ********** *** ****.
***** ** *********** **** **** ****** didn't ******* **** ***.
"********** ***" *** ****** * ******* because **** ***** *** **** *** point ** **** **** *** ******* wire ** ********* *** ***** **** with *** **** ****. **** ****** to *** ** **** **** ** auth ***** **** *** ******* **** could ** ****** ** *** ******, but ***** ***. *******, **** ****** relied ** ******** **** ******* ***** credentials *** ****** *** ******* ***** directly ** *** ******. ************, ******** a **** ******** ****** **** *** take *** ***-********** **** *********** *** upgrade **** ** **** ****** ***** credentials ** **** *****. #****************
* ** ******* ******, ******. ********** one ** *** **** *********** (*** entertaining) ****** ** ****. * **** he ***** **** ***** ******.
**** ******* *** *** * ***** together *****'* **** **** ****'** ***** to *****.
*** *** ** *****/*******. ** *** our **** *** **** ****. **** they ******* ***** *** ********* ****** (2015?) ** **** ********. **** *** painfully *** ****.
* ***** **** **** ** *** last ***** *** *** *** ********* Ocularis ***-***** *********
******:******* ******** *******, *********** ********** ** physical ******** | *******
******* ** **** ********* ** *********** the *** ******* *******. *** ******* enables ********* ** *******’* ******** *** NiceVision ******** ** **** ** ******* VMS *** ******* **** ***, ******** capabilities
*'** ***** ****** **** ******* *** been ****** ** ******* ***** ******** instead ** ********** * ********* *****. They *** ***** ****** ** *** basis *** *** *** ******* *** and *** ****** ** *** ***** other ********* ** ****** ****. **** already ******** ********* *** **********. ** this *****, * ****** ********** *** Ocularis **** *** ******* *** *********** patches, **** *** ****** *********** ***** to ******* ***.