International. Motorola Solutions, Inc. announced that it has acquired VaaS International Holdings, Inc. (VaaS), a data and image analysis company headquartered in Livermore, California, and Fort Worth, Texas. The amount of the transaction amounted to $445 million, which Motorola Solutions closed with a combination of cash and marketable securities.
VaaS, a "video analytics as a service" company, is a leading global provider of data and image analysis for vehicle locations. The company's image capture and analysis platform, which includes fixed and mobile cameras for vehicle license plate recognition based on machine learning and artificial intelligence, provides useful vehicle location data to commercial and public safety customers. Its subsidiaries include Vigilant Solutions, for law enforcement users, and Digital Recognition Network (DRN), for commercial customers. In 2019, the company is expected to generate revenues of approximately US$ 100 million.
"Automatic license plate recognition is an increasingly powerful tool for law enforcement," said Greg Brown, president and CEO of Motorola Solutions. "This acquisition of VaaS will allow us to expand our command center software portfolio with the most extensive shareable database of vehicle location information that can help shorten response times and streamline and make investigations more accurate."
The VaaS platform enables the sharing of data in a controlled and audited manner between multiple law enforcement agencies. Vehicle location information can help speed up resolution times and improve the results of public safety agencies, especially when combined with police records. For example, for law enforcement, VaaS solutions have been used to quickly apprehend dangerous suspects and find missing people.
"We are honored to join Motorola Solutions," said Shawn Smith, co-founder of VaaS and president of Vigilant Solutions. "This acquisition allows us to continue serving our existing customers and expand our presence globally, while empowering a company committed to innovation and growth, driven by a common goal in line with our mission and culture: "To help people give their best in the moments that matter." There is nothing better."
"Our unbeatable AI and data technology for license plate recognition has paved the way for new commercial applications for our products," said Todd Hodnett, co-founder of VaaS and president of the Digital Recognition Network. "We believe the commercialization of these new applications could be accelerated by Motorola Solutions' brand and reach, and we are very excited about this idea of working together to grow and diversify our commercial business."
Vehicle license plate reading is a highly specialized practice that requires analytical study and specially designed cameras. VaaS's fixed and mobile license plate recognition cameras can capture and analyze license plate information, which differs greatly from state or country to country, even when vehicles are traveling at high speed or in adverse weather conditions with poor visibility.
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