Palo Alto, CA – May 14, 2018 – IntelliVision Technologies Corp., a pioneer and leader in Artificial Intelligence, smart and deep learning-based video analytics software, has been acquired by Nortek Security & Control LLC (NSC), a global leader in smart connected devices and systems for residential, security, access control and digital health markets. IntelliVision will operate as a wholly owned subsidiary of Nortek, and will continue to support its customers and products.
IntelliVision® AI and video analytics solutions provide actionable insights for security and monitoring in smart home, smart enterprise, and smart city applications; business intelligence for smart enterprise and smart retail; and advanced driver assistance systems (ADAS) for automobiles. IntelliVision’s software includes licenses for dozens of patents and has been deployed globally in over 4 million cameras.
IntelliVision CEO Vaidhi Nathan said, “We are thrilled to become part of Nortek Security & Control,” and, “We now have the support and resources of a major market-leader. Plus, integrating IntelliVision’s AI and video analytics technologies into NSC’s security, control and entertainment platforms will create clear leadership advantages in the markets we collectively serve.”
Nortek’s President Mike O’Neal said, “This acquisition is a great fit for us…The IntelliVision team brings incredible strengths from which we will together build rich, future-ready solutions, with intelligence that will transform the NSC product line. This will extend our leadership position in security, automation and entertainment technology, with significant benefits for our partners and customers.”
Woodside Capital Partners served as the exclusive financial advisor to IntelliVision for this transaction.
IntelliVision is a market leader in AI and deep learning-based video analytics software for smart cameras, providing video analytics solutions for several markets including Smart Home/IoT, Smart Security, Smart Retail, Smart City and Smart Auto/ADAS. IntelliVision technology includes licenses for dozens of patents and has been recognized as the Brains Behind the EyesTM for many applications deploying and using cameras to provide actionable insights and real-time alerts to other home, business and security systems. IntelliVision provides the largest suite of video analytic products in the market today. Its products are used by Top Tier camera vendors, Fortune 500 companies, the US Government and many leading brands. IntelliVision is a privately-held company headquartered in San Jose, California with offices in Asia and Europe. For further information, visit intelli-vision.com.
About Nortek Security & Control
Nortek Security & Control LLC is a global leader in smart connected devices and systems for residential smart home, security, access control, AV distribution, and digital health markets. NSC and its partners have deployed more than 4 million connected systems and over 25 million security and home control sensors and peripherals. Through its family of brands including 2GIG®, ELAN®, Gefen®, GoControl®, Linear®, Mighty Mule® and Numera®, NSC designs solutions for national telecoms, big-box retailers, OEM partners, service providers, security dealers, technology integrators, and consumers.
About Woodside Capital Partners
Woodside Capital Partners is a global, independent investment bank that delivers world-class strategic and financial advice to emerging growth companies in the technology and life sciences sectors. With a strong track record in M&A, strategic partnerships and private placements, Woodside Capital Partners has been providing worldwide investment banking services since 2001 with leading domain experience in software, Internet services, electronic communications and materials, and healthcare. Woodside Capital Partners is headquartered in Silicon Valley, with an office in London. Securities offered through Woodside Capital Securities LLC, member FINRA/SIPC. For more information, please visit www.woodsidecap.com
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