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 ********** ****, **** has**** ******** * *** company (*****)*** ************** * *** ******* in **** (******).

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

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

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

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

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

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

*** *********** *** ********* the ******** ****** *********, at ** ** ** time, ** ********* *** time *** ** *********** announcement, **** **** ****** typically ******** *** ******* bad ****.

*******, ***** **** **** 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 *** ******** ** headcount, **** ******** ********** it ** **% ** the **** * *****:

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

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

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

***** ******** **** **** 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)

Undisclosed #1

12/24/18 01:41am

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

Undisclosed #2

12/24/18 02:35am

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

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

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

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

Undisclosed #2

12/24/18 03:00am

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

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

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

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

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

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

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

Brian Anderson, CPP®

IPVMU Certified | 12/24/18 03:02am

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

John Honovich

IPVM | In reply to Brian Anderson, CPP® | 12/24/18 03:40am

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

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

Undisclosed #4

In reply to John Honovich | 12/24/18 02:43pm

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

John Honovich

IPVM | In reply to Undisclosed #4 | 12/24/18 02:58pm

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

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

Undisclosed Integrator #10

In reply to John Honovich | 12/27/18 04:25pm

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

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

Undisclosed #9

In reply to Undisclosed #4 | 12/26/18 12:45am

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

Undisclosed #6

In reply to John Honovich | 12/24/18 04:34pm

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

John Honovich

IPVM | In reply to Undisclosed #6 | 12/24/18 04:40pm

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

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

Undisclosed #3

IPVMU Certified | 12/24/18 04:15am

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

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

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

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

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

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

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

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

Undisclosed Manufacturer #5

In reply to Undisclosed #3 | 12/24/18 04:01pm

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

Undisclosed #3

IPVMU Certified | 12/24/18 05:43pm

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

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

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

Undisclosed Integrator #7

12/25/18 03:03pm

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

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

John Honovich

IPVM | In reply to Undisclosed Integrator #7 | 12/25/18 04:46pm

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

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

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

Undisclosed Integrator #8

12/25/18 06:35pm

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

John Honovich

IPVM | In reply to Undisclosed Integrator #8 | 12/25/18 07:03pm

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

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

Undisclosed Integrator #8

In reply to John Honovich | 12/25/18 07:22pm

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

Undisclosed #9

In reply to Undisclosed Integrator #8 | 12/26/18 12:51am

** *, ** *** 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? - ***** ****.

Undisclosed #9

In reply to Undisclosed Integrator #8 | 12/26/18 12:41am

**** *** ******, ****** 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 ** *******).

**** ****. *****.

Undisclosed #9

12/26/18 12:23am

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