GE Security Inc., a business of GE Enterprise Solutions, Bradenton, Fla., has acquired certain assets of CoVi Technologies Inc., an IP video systems provider headquartered in Austin, Texas.
The addition of CoVi Technologies' research and development experience, intellectual property and video expertise will be a strong complement to GE Security's video solutions offerings and growth strategy. The acquisition is expected to strengthen GE Security's delivery of Internet protocol video hardware and software solutions.
“The $6 billion-plus global video industry, with its 11 percent compound annual growth rate, is a crucial component of our strategy to be the fastest-growing, global security and life safety product company,” said Dean Seavers, president and CEO, GE Security. “CoVi's technology and experience are closely aligned with our video platform strategy and will be a strong complement to our expanding video solutions offerings.”
“CoVi is one of the technology leaders in the video surveillance industry,” said Dilip Sarangan, a Frost & Sullivan industry analyst. “This acquisition will enable GE Security to offer the latest IP technology and deliver great value to systems integrators and end users.”