International. Motorola Solutions announced the acquisition of Envysion, Inc., a provider of enterprise video security and business analytics solutions for the retail and quick-service restaurant industries.
This is Motorola Solutions' fifth acquisition in the video and access control market.
Envysion's cloud-based solution integrates video systems with sales data to proactively identify potentially fraudulent transactions and highlight sales patterns and in-store activity without the need to monitor hours of video images.
"The combination of video and analytics continues to play an important role in supporting enterprise security," said Greg Brown, president and CEO of Motorola Solutions. "With Envysion, we will bring increased operational efficiency and security to the vast restaurant and retail industries across the U.S., expanding our presence and reinforcing our strategy as a global leader in end-to-end video security solutions."
Envysion's platform, trusted by restaurants, convenience stores and specialty stores, helps identify and resolve theft and supports priorities such as customer and employee safety, workplace productivity, and physical safety. Business owners have access to actionable insights to drive better management decisions to reduce losses, mitigate risk, and improve profitability.
"We are excited to join Motorola Solutions and look forward to advancing the innovative solutions we offer our customers," said Matt Umscheid, CEO of Envysion. "Together, we will continue to invest and build on Motorola Solutions' portfolio of video security and access control solutions and equip enterprise customers with unparalleled security capabilities."
The terms of the transaction were not disclosed by the brand but it was known that the cost of the transaction was around US $ 124 million, as revealed by Memoori Research.
