High-definition CCTV surveillance specialist Avigilon has announced it will buy VideoIQ for US$32 million. The two companies made the announcement on 31 December 2013 that they had signed an agreement for the purchase which is expected to be completed in early January 2014.
VideoIQ has created real-time intelligent video analytics products for security and business intelligence applications, and reportedly has 23 patents granted or pending. It’s based in Massachusetts, USA and employs around 30 staff. Its technology includes live detection, event verification and instant notification, and self-learning capabilities.
Avigilon, based in Vancouver, Canada, specialises in high-definition megapixel imaging, from cameras that range in resolution up to 16 megapixels to recording and video management systems designed to handle the higher throughput of data.
In the short term, Avigilon hopes to stimulate sales by offering its megapixel technology and VideoIQ’s video analytics software through its global distribution channels.
In the medium term, the intention is to integrate the two product lines, according to Alexander Fernandes, president and CEO of Avigilon.
“Over time, as we integrate VideoIQ’s technology into the Avigilon system, we will expand our end-to-end high-definition surveillance solutions to include robust analytics capabilities, giving end users the ability to prevent crime proactively and more effectively analyse large amounts of data,” Fernandes said.
In August 2013, VideoIQ announced it had been awarded 10 patents covering:
- Storage solutions which intelligently combine solid-state and hard-disk storage devices to increase the mean lifetime of hard-disk drives by five or 10 times.
- Self-learning pattern-based video analytics which are capable of object classification. This enables accurate video recognition with no manual calibration, the company said, or intuitive user training using its Teach-by-Example system.
- Algorithms capable of translating any floating point algorithm to fixed-point, enabling it to run on a wide range of low-power processors.
“This level of commitment and accomplishment blends technology, science and mathematics to a level I am most proud of. Our team continues to push the boundaries in intelligent analytics, allowing cameras to essentially see and think like you do”, said Dr. Mahesh Saptharishi, the CTO and founder of VideoIQ.