Vidsys CEO Out

By: John Honovich, Published on Jan 27, 2015

Three years ago, Vidsys, one of the last independent PSIMs, named a prestigious CEO.

Now he is out.

In this note, we look at the move and the future for Vidsys.

***** ***** ***, ******, one ** *** **** independent *****, ***** * prestigious ***.

*** ** ** ***.

** **** ****, ** look ** *** **** and *** ****** *** Vidsys.

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

Michael *. *******

** ****,****** ************ *. ********* ***** ***. ******* brought * *********** ********** including ***** ** *** Deputy ********* ** *** (2005-2007), ****** ********* ** the *** (****-****) *** Senior **** ********* ** AECOM. ** *** **** an ******** ************ *** them (*.*.,**** *********). *********** ****'* ***** status, **** *** ***** a ******* ****.

***, ** ** ***. The *** *** ******** to *** *** ******* was *** ********* ******** in*** *** *** ***** release. ******' ********* ** told **** **** ******* "has ***** ** ** other ********."

******* *** ***** ******* as ** *********** **********, via ************ ******** ****.

The ****

**** ** * ******** development *** ******, ******* Jackson *** ****** *** or ****. ***** *** Vidsys *** ******* *** departure, ** ***** ****** to ** ** *** terms, ** ********* ****** transitions ******* ****** ********* to *** ******** *** and **** ** ******** a ***********.

Vidsys ******

*** **** ****** *** struggled ** * *****. Even ******' *** ******** of *** **** ****** size *** **** $*** million *** ****, **** 20% ****** ****** ****** rates.

*******, ****** *** ******* a ************** $**.* ******* ** fund ******* ** ****. *******, *** ******* has ****** **** **** $30 *******, ********* *$** ******* ***** ** 2007.

** *** **** ****, the ******* ***** ****** have **** ***** ********* from *** **** *****. The ******** ** **** the ****** ** ****, especially ******** ** *** amounts ********* **** *** into *** *******.

*** ** * **** a *** *** *** deep ************* *** *********** to *** ** ********** will **** ** **** more *********** *** ******.

Comments (5)

Now to a lose a CEO who had deep understanding and connections to the US government will make it even more challenging for Vidsys.

Yes, but I think they were focusing too much on that sector anyway.

Where should they focus? There's only so many organizations that can justify spending hundreds of thousands on an additional, typically non budgeted, system.

They should focus on not having to charge hundreds of thousands on their product.

I think there could be a lot of potential for PSIM featuresets in large enterprise accounts, Fortune 1000, and so forth beyond government.

By focusing heavily on the government sector you can get lulled into believing your product is worth $100,000 for a basic install when comparably the code is not much more complex than a $20,000 software offering. If you build for government, you'll end up pricing yourself into a corner. Not to mention have a fairly limited market base with a long, complex sales cycle.

Build for large private sector enterprises and you can still charge a lot, but you have a much wider audience, and haven't eliminated the government sector.

Overall their biggest problem might simply be that nobody knows exactly what a PSIM is or does.

"when comparably the code is not much more complex than a $20,000 software offering"

You know you are asking for the holy grail of PSIM? :) You need a miracle worker, not a new CEO....

In all seriousness, I see 2 challenges:

  • There's typically a lot of custom integration needed since there are so many random, different security subsystems to be integrated.
  • These sales take so long to close and require such high touch.

Both of them put pressure on pricing.

I enjoyed working with Michael P. Jackson when he was DHS point person on the border fence. Very unpretensious.

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...
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),...
Failed Integrator Rollup, Securadyne Sells to Guard Giant Allied on Apr 10, 2019
One of the most ambitious integrator rollups of the decade has reached its conclusion—selling to a mega guard company. Allied Universal has...
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...
Motorola Acquires Watchguard, Adds to Vigilant And Avigilon on Jul 15, 2019
2 years ago, Motorola had no position nor relevancy to video surveillance. Now, they own major video surveillance, LPR and body camera providers...
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

Hanwha Wisenet X Plus PTRZ Tested on Feb 14, 2020
Hanwha has released their PTRZ camera, the Wisenet X Plus XNV-6081Z, claiming the "modular design allows for easy installation". We bought and...
PRC Warns Against China Video Surveillance Hacks, Hikvision Targeted on Feb 14, 2020
Hackers are targeting China video surveillance manufacturers and systems, according to the PRC's main cyber threat monitoring body. The hackers...
IPVM Conference 2020 on Feb 13, 2020
IPVM is excited to announce our 2020 conference. This is the first and only industry event that will be 100% sponsor-free. Like IPVM online, the...
Bosch Dropping Dahua on Feb 13, 2020
Bosch has confirmed to IPVM that it is in the process of dropping Dahua, over the next year, as both IP camera contract manufacturer and recorder...
BluB0X Alleges Lenel, S2, Software House Are Dinosaurs on Feb 13, 2020
BluB0X is running an ad campaign labeling Lenel, S2, Software House, Honeywell, AMAG and more as dinosaurs: In a follow-up email to IPVM,...
London Live Police Face Recognition Visited on Feb 13, 2020
London police have officially begun using live facial recognition in select areas of the UK capital, sparking significant controversy. IPVM...
Converged vs Dedicated Networks For Surveillance Tutorial on Feb 12, 2020
Use the existing network or deploy a new one? This is a critical choice in designing video surveillance systems. Though 'convergence' was a big...
Monitoreal "Completely Autonomous" Home AI Tested on Feb 12, 2020
Monitoreal claims to allow users to "see the things you want (people, vehicles, animals) and ignore the things you don’t”, using AI to distinguish...
Cisco Video Surveillance Is Dead, Long Live Cisco Meraki Video Surveillance on Feb 11, 2020
A dozen years ago much of the industry thought that Cisco was destined to dominate video surveillance. They stumbled repeatedly, failing. Now it is...
BICSI For IP Video Surveillance Guide on Feb 11, 2020
Spend enough time around networks and eventually someone will mention BICSI, the oft-referenced but only vaguely known standards body prevalent in...