Tyco Security Products is chasing success in the video security market by stepping away from a one-size-fits all approach to address what it sees as a “fragmented” market.
The company recently completed the acquisition of open-architecture video management system (VMS) developer Exacq Technologies for $150 million in cash, in a move expected to boost its presence within the video security market.
Steve Carney, director of product management for video at Tyco Security Products, told SecurityNewsDesk the move allows the company to advance its overall position by enabling it to offer purpose-built solutions for different sectors of the market across the globe.
He said the company’s approach to the market is markedly different from the competition, insisting that the ability to customise systems across different verticals and for different size jobs is the way forward.
“We are really taking an alternative path to field custom-built solutions that cater to fundamentally different needs,” said Carney.
“Major manufacturers are sticking to more of a one-size-fits-all approach and trying to modify that across verticals and different customer sizes. We are just not sure that is the best way to really address what is a fragmented market with a very broad range of customer needs.
“You can see this mirrored in our access control solutions. Tyco Security Products is number two in the world in access control and we have four different brands that we market to different customers through different channels in different part of the worlds. You can see us working to replicate our market success in access control in the video side.”
The acquisition means integrators can fill their portfolio with Tyco products and access a broad range of solutions, from small-site all the way to enterprise, and end users can benefit from getting a custom solution that is geared towards their needs and their applications, the company says.
Exacq boasts a strong brand presence in North America and Tyco Security Products aims to replicate that success around the world. The Exacq portfolio will be brought into the Tyco Security Products unit and Carney said he was “really excited” about the acquisition.
He added: “They [Exacq] are able to make IP video really understandable, really easy to use and really easy to install – and we see those attributes being successful anywhere in the world.
“We are really looking forward over the next several months to complete the integration and roll it out strongly around the world.”