Qognify Acquires OnSSI, CEO Pitches Exciting Future

By: John Honovich, Published on Dec 23, 2018

Qognify is a VMS / PSIM company, with a tumultuous 2018, that has just acquired a VMS company (OnSSI) who itself acquired a VMS company in 2015 (Seetec).

How will it all work?

[link no longer available]

Qognify CEO Steve Shine [link no longer available] (who joined this April 2018) spoke to IPVM about the acquisition and the exciting future he sees for the combined companies with its backing by Battery Ventures.

Inside this note, we share his outlook, examine key details and notable challenges for the combination.

******* ** * *** / **** *******, **** a ********** ****, **** ******* ******** * *** company (*****)*** ************** * *** ******* in **** (******).

*** **** ** *** work?

[**** ** ****** *********]

******* *** ***** ***** [link ** ****** *********] (who ****** **** ***** 2018) ***** ** **** about *** *********** *** the ******** ****** ** sees *** *** ******** companies **** *** ******* by ******* ********.

****** **** ****, ** share *** *******, ******* key ******* *** ******* challenges *** *** ***********.

[***************]

Announcement *** ******, **** ******* **** ******

*** *********** *** ********* the ******** ****** *********, at ** ** ** ****, an ********* *** **** for ** *********** ************, with **** ****** ********* reserved *** ******* *** news.

*******, ***** **** **** was *** *** ****. Instead, **** ** *** deal *** **** ****** (e.g., ** *** ******* heard ***** **) *** the ******* ******* ** issue * ***** ******* immediately ****** **** *** the **** *** *** informally.

Terms *** ********* / ********* ** ********

*** ********* *** *** disclose *** ***** (***** paid, *******, ***.). ***** did *** **** ******* was ** ************* ** 2018 ***** ************* **** previous ***** *** **** challenging *** ***** ********* *******. ** ******* *******'* revenue *** **** ** 2018, ********* ***** ** significant **** ** ********* in **** (******** ******* later ** **** ****).

** ******** *****'* ******* (including ******) ** ** in *** $** - $30 ******* *****, ****** estimation ** ********* *********** the *******'* ***** ******** from *** ********* ******* offset ** ******'* ******** from *** **** ***********.

*********, ********* ** *********, but ** ******* ** would ** ******, ** the ** ** *.** revenue *****, ***** *** challenges **** ***** *** faced *** *** ******** maturity ** *** *** software ******.

Battery ******** *******

*** **** *** ****** by *******'* *****,******* ********, * ******* ****** firm **** ********* $*.* ******* ***** management(*** *$*.** ******* *** ***** this ****).******* ******** ******* ** 2015*** ** ********** ** back *** *******.

More ************ ** ****, *********** *********

*** ******* ** *********** buying ** ******** ********* that ***** ********** ***** VMS ********* (*.*., ** believe ***** ** ***** be * ******** **********).

Growing "****** *** ******"

*******, ****** ** *******, intends *********** *********. ** Battery ******** *********:

*** *********** ** *** OnSSI ***** – * high-profile ***** ** *** security ****** ** *** own ***** – ** a ***** *********** ** its *******, *** **** importantly **** **** * marker ********* ***intent ** **** ****** *** ******.” [emphasis added]

Pitch ******** ** * *****

******* *** **** * VMSes -********************* ***** **** **********, ************ **** **** *** existing ******* ****.

***** *** **** ******** from **** - ** particular ****** * ***** that *** ****** ** different ********* *** *** cases, ****** **** ** single *** *** *** every *** ****.

***** ******* ******* ** keep *** *** ***** with ******** *********** *****, the ******* **** ***** benefits **** ********* **/* support ****** *** ***** and ************* ** ******* interfaces ** ****** ************** across *** ******** **** developing ** ********* ********.

Challenges ** * *****

******** *********, ****** ** many ***** **** *********** problems ** *********** (****** time ******** *** **** feature **** *** **** again), ***** (********* ***** or ****** ********* ******* salespeople ***** **** *** does **** *** ***** to **** **), *** support (*********** *** **** VMS ***** *** **** specific *******). ***** ** do *** **** ****** about *** ** *******/*****'* VMSes, ** ****** ******* about ****. *******, ** is **** ** ******* any * ***** (*.*., pick *** * '****' VMSes) ***** *********** *** productively **** ** * single *******.

***** ***** *** ********** managing ******* ********** **** software ************* (** **** ******* ***** Actian ** ** ****** asses **** **********).

Qognify's *** ********** - ********** *******

************* ***** ** *** Qognify's *** **** *********. In *** **** * years, *** ******* *** had *********** ********, **** notable net ******** ** *********, with ******** ********** ** at **% ** *** past * *****:

***** ************ **** *** directionally ********, ****** **** given *** *******, ***** were ******** ** ******** leaner.

****** ****, ***** ***** joined, **** ** *** of *** ********* **** left *******, *********:

  • **** *******, (********) *** [link ** ****** *********]
  • *** *****, *** [**** no ****** *********]
  • **** ******, ** ** Marketing [**** ** ****** available]
  • ****** **********, ** ** Sales **** [**** ** longer *********]
  • ******** *****, ** ** Strategic ******** [**** ** longer *********]
  • **** ****, ** ** Strategic ************ [**** ** longer *********]
  • ****** ********* ** ** ***** APAC, ********* *** ****** [link ** ****** *********]

***** ******** **** **** was **** ** *** process ** ******** **** being **** ** * larger ******** ****** ******* to ******** * ********** software *********.

** **** ***** * lot ** ******** **** Qognify ********, ********* ****** with ***** (**** ********* given *** *** ***** turnover) ** **** ** on *** ******* ****, including *** **** ****** VisionHub ***.

Outlook - ***********

*** *** **** ********* are **** *** ******* has **** ******* ******* it *** * *** who ** ******* ********* the ********* ** ******* this *** ********.

*******, ** ***** **** is ***** ** ** hard. ***** *** ** many ***** ** **** and ** **** **** things *** ** *****. Qognify *** *** *** problems. ***** *** ******. Putting **** ******** ** likely ** ****** **** problems ****** **** ******* the *** ********** ****. Plus, **** ** * mature ****** ** ** is *** ** ** there ** **** ****** to **** ********* ******. 

** **** ** ******* provides *** ******* *** funds ** ******* * turnaround *** * ******-**** approach, ******* *** * chance *** ** ******* / ******* ******* ******* on *****-**** ********* *******, this *** *** ********* to ****** **** * Frankenstein ** ***** ********* struggling ** ******* **** more ******* ********** ***********.

Vote / ****

Comments (22)

******** ** ****. **** be ********* ** **** stabilizes *** ** ********* viable.

****** *** *** ** convinced **** *******/********** * different ***'* ** * good ***** - ** an *****.

***** ** ** *****, but **** **... *********?

* ****** **** ** the **** ***** ****** of ****, **** ******* will *********** ** * - ***** * *** one *** ************.

********** * ******** *** unique ***'* ** * sales *** ******* ********* that **** * ********* would **** **... *** try *** ******** ****** is * **** *****.

****** ** *** ************/***** ****- ********** ****:

******* - ****** ** **** *** HQ'ed ** *******, ** - ***** **'* ** to *** **** ******** ** *****'* long-time ** ** ***** River, ** ** ******* ****. (* Blue **** *****, ***** River, ** - **** it **)

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

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

*'* ******* *** **** chose ** **** ***** HQ ** *** **** same ******** ** *** company **** *** *********, less **** * ***** later.

********** ***** ***** *** long ****** ********** * 'PSIM-like' ***... **** **** Qognify's ******** (***/**** ***********).

***********?

** ****** ** ***** unfortunately. ***** ***** ** Qognify. 

**********:**** ** *** ** the ***** ************ ******** / *** *******

**** / ******* *** historically ******* ** *** enterprise ****** ** **** are ********* *** **** known. ****, *** **, we ********* ** *** hear ***** ****, **** on ************ *********.

**** *** *** ** those ****** ** *** on * ****** ***** use.  *** **** ********* I **** **** **** used ** ****** **** good ************ *** ****'* care **** ** **** (and *** ***** ** the ******* ***** ********** validated **** ****).  ** was *******, *** ***** true ******* ***** ****** I **** ****** ** and *** ***** *** I **** ****** ** that **** **** ****** to *** * ****** of ********* ** *******.  Yea, ***** *** ****** have ******** ** *** last ** *****!

***, ***** *** ****** have ******** ** *** last ** *****!

***, **** *** ********* one ** *** ********. The ******** / ********* now ** *** *********** they ****** ***** *** overall ****** ******** *** development ** *** **** larger *********** **** ** Genetec *** *********.

**** *** *****; **** they **** ***** **** your **** ****** *** a ***** ****** ****** tied ** ******** *** units.  **** **** ******** analog **** ****.

** *** * **** and ******* ******* ** move ** ** ** solution; ****'* ***** **** got ****** **.

***'* ****** *******, *** times **** ******* **.

** *** ****** * have **** **** ******* once, *** ** ** at * **** ***** institution.  ****** *-* ******** channels.  *******, ***** **** that *** ******* ***** IT ******* ** ****** there ** **** ***** presence.  ******* **** ** living *** **** *** camera/licensing ****. 

**** ** ******* ** ***** **** studies, ** ** *** airports, *****, ******, ***.

**** ** *** ** the ******* *** *** acquisition ** **** **** have * ********** ******** / ********. ***, *** well **** ****** **** 'sides' *** ******* ********* will ** *********** ** ***.

****** ** *** ************ today

****: * *** *** got ** ***** **** ONSSI ****** ******* *** ONSSI *** *******, *** it *****’* **** **** you **** **. **** you ***** *******?

**: **, * ****’*. But ****’* ***** *******, Qognify ** ********* *****, hmmm.

****: * ****’* *** that, ** **** ****’** merging.

**: **** ******* *** rare. *** *-**** ** **** ONSSI; ******** *****, ** therefore ***** ** ***** acquired.

****: **** ** ** IPVM ****.

**: *****, ***** **** John ****’* **** ** public...

****: ********!

**, *’* ******** **** is *** ** ***** ‘had ** ** *****’ to ** ***** *********. 

*******, ***** **** **** was *** *** ****. Instead, **** ** *** deal *** **** ****** (e.g., ** *** ******* heard ***** **) *** the ******* ******* ** issue * ***** ******* immediately ****** **** *** the **** *** *** informally.

******* **** ********** ****** it?

*** ****** *****, *** now *** ***** **** 404.  

**** *****'* ****  **** good ...***** *** *******, OnSSi *** **** ***** ... ***** **** ***** to ** ******* **** ..  

**** *** ** ** mean :) .. : Anyone *** ****** **** having * *** ** this ****** ** ** advantage, ** ****  ... not*******.

****** *** ****** **** having * *** ** this ****** ** ** advantage, ** **** ... not *******.

**** ******* ** ***, I *** *** ***** he ** *******. 

*** ****** ***** ** that ** ** *** to **** ********. ***** ****** * competing ******** ************ ***** in **** ******* ** an ********* (***** * am *** ** ****** in *****, * ****** tell). *** * ** with *** **** ****** 5 ***** ** ***** surveillance ** *** ** advantage.

**** ** *** ***** will ******? **** **** continue ** ******* *** ONSSI ***?

**** **** ******** ** develop *** ***** ***?

***, **** **** **** would. ****, * ***** they ********* ** **** / **** * ***-****** offering, ***** **** ***'* have **** *** ******** Qognify ****.

*********, ***** ** ****, I ***** ** ** possible ** **** *** ONSSI *** ** ********* product **** * *** new ******** **** ***** analytics, *********** ** *** party ******* *** **** ******* for *** ***-***** **********. The ****** ******* ** the ******** ** **** stable *** ***** ****** great.

** *, ** *** already *** *** ** that ** *****, ***** you **** ******* ***** back **** *** ****? Cards *** ** *** table *** ********* ** customer's ****** ** ** fun. ******* ******* ** the ********, ** ******** or *** ***** ****** releases *** ****** ****** are ***. 

******** ** ** *** have ** ****** **** integrations(access, ********, *********, *********, intrusion)and ***** ** ***** in *** **** **** the ***** ****** ****. So **** ** * major ***** *******, **** as * ***** ******** breach ***** *** **** to ******* *** *** cant? - ***** ****.

**** *** ******, ****** took *** ***** *** ran. ********* **** ****** version *.* ****, *** Ocularis ** ** *.*, really *** **** ******** and ****** *** *** really *** **** *.* and **? **** ***** all ***** ****** ** keeping *** ********* ********* compatibility ****** *** *** user ******** **** * handful ** *** ******** underneath ****** ***********. 

******** **** ****, ** is **********, *** * few ************ ******* **** are **** **** ******* water ** ********** ** Milestone ** *******(****** *** lower ****). *** ******* break **** *** ** the **** *****? ** the *********** **** *** certifications, ***** ****, *** qualifications.

* ******* ******* ** revamp *** ** ******, share *** *** ******** feeds **** **** **** and ********* *** *** into *** **** ****** left ****. ** ******* already ********* **** *****, Software ***** ** *******?(**** I ***** *** ******* font ** *******). 

**** ****.  *****.

 

**** ***** **'* ** NOT ***** **** ***.

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Related Reports

Turnover at Arcules on Jan 24, 2019
Canon / Milestone are putting tens of millions into Arcules - their bet on the future of the VMS market (see IPVM's Arcules test report). But over...
Sales Turnover At Anyvision on Feb 13, 2019
Anyvision raised a $43 million Series A and according to their newest investor: what you need to do is push the gas pedal and build an...
Qognify Significantly Cuts OnSSI HQ on Feb 25, 2019
Qognify, having acquired OnSSI less than 2 months ago, in December 2018, has cut ~25% of OnSSI total employees, primarily at OnSSI's HQ in Pearl...
Qognify Dropping Seetec and OnSSI Brands on Mar 01, 2019
Qognify is dropping both the Seetec and OnSSI brands, just over 2 months after acquiring OnSSI / Seetec and a week after sweeping cuts to the...
OpenALPR Acquired By Mysterious Novume on Mar 13, 2019
Startup OpenALPR has been acquired by Novume, a company virtually unknown in the industry. While there are many LPR providers (see our directory),...
Vidsys New President Interviewed on May 31, 2019
A decade ago, PSIM was hot with projections then of a billion dollar market by now. This has not come close to happening. However, Vidsys, one of...
Milestone Has Problems on Oct 01, 2019
Milestone has problems. While the company previously excelled in the shift to IP cameras, as IP has matured and competitive differentiation has...
Alarm.com Acquires OpenEye on Oct 21, 2019
Alarm.com is targeting commercial expansion and now they have a commercial cloud VMS with the acquisition of OpenEye. In this note, based on...
Struggling Arcules Changes Chief Revenue Officer on Oct 29, 2019
Canon / Milestone spinout Arcules has struggled, now changing their Chief Revenue Officer, just a year after he came on board. The issue is not...
ADT Stock Surges - "Leading The Commercial Space" on Nov 15, 2019
Don't call it comeback... but maybe call it a commercial provider. ADT, whose stock dropped by as much as 2/3rds since IPOing in 2018, has now...

Most Recent Industry Reports

Intersec 2020 Final Show Report on Jan 21, 2020
IPVM spent all 3 days at the Intersec 2020 show interviewing various companies and finding key trends. We cover: Middle East Enterprise...
Vehicle & Long Range Access Reader Tutorial on Jan 21, 2020
One of the classic challenges for access control are parking lots and garages, where the user's credential is far from the reader. With modern...
Clearview AI Alarm - NY Times Report Says "Might End Privacy" on Jan 20, 2020
Over the weekend, the NY Times released a report titled "The Secretive Company That Might End Privacy as We Know It" about a company named...
Favorite Camera Manufacturers 2020 on Jan 20, 2020
The past 2 years of US bans and sanctions have shaken the video surveillance industry but what impact would this have on integrators' favorite...
"Severely Impacted" Mercury Security 2020 Leap Year Firmware Issue on Jan 17, 2020
One of the largest access controller manufacturers has a big problem: February 29th. Mercury Security, owned by HID, is alerting partners of the...
Apple Acquires XNOR.ai, Loss For The Industry on Jan 16, 2020
Apple has acquired XNOR.ai for $200 million, reports GeekWire. This is a loss for the video surveillance industry. XNOR.ai stunned the industry...
Installation Course January 2020 - Last Chance on Jan 16, 2020
Thursday, January 16th is your last chance to register for the Winter 2020 Video Surveillance Installation Course. This is a unique installation...
Halo Smart Vape Detector Tested on Jan 16, 2020
The Halo Smart Sensor claims to detect vaping, including popular brand Juul and even THC vapes. But how well does it work in real world...
PRC Government Entity Now Controlling Shareholder of Infinova / March Networks on Jan 16, 2020
A PRC government entity is now the controlling shareholder of US security manufacturer Infinova as well as its wholly-owned subsidiary March...
Network Cabling for Video Surveillance on Jan 15, 2020
In this guide, we explain the fundamentals of network cabling for video surveillance networks, how they should be installed, and the differences in...