United States. ACRE, a security systems supply company, announced the acquisition of Razberi Technologies ("Razberi"), a company headquartered in Farmers Branch, Texas.
This acquisition will enhance ACRE's strategic expansion plans to strengthen its video and communications product and business portfolio.
This is the latest M&A transaction since ACRE completed acquisitions of two access control businesses: Open Options in December 2018 and RS2 in May 2019; both have continued to thrive and build ACRE's overall market position.
Razberi will significantly increase ACRE's position in the communications and video market, enhancing ComNet's portfolio and providing complementary technologies to its access control brands.
Razberi, which was founded in 2011, has developed a portfolio of products that enable companies to implement a simple and secure video surveillance system, the best in its class. Razberi's open product platforms work with third-party video cameras, video management software, and video analytics. In addition, Razberi provides increased cybersecurity protection and threat response times
ACRE CEO Joseph Grillo stated that this transaction will continue to expand ACRE's competitive position in a highly fragmented market with great growth potential. "The acquisition of Razberi increases ComNet's reach in the communications space and enhances our product portfolio with the addition of advanced cybersecurity technologies and system health monitoring."
"We are excited to join the ACRE organization with its strong global reach that will open up new opportunities for the Razberi product range," said Tom Galvin, founder and chief product officer of Razberi, who will remain the ceo of the business after the acquisition.
Imperial Capital were Razberi's advisors on this transaction. Financial details of were not released.
