Irisiti buys video analytics agent from Israel

Swedish video analytics and security systems company Irisity AB (ST: IRIS) has announced the acquisition of Israeli video analytics company Agent Vi for $67.5 million in cash and stock. Located in Rosh Ha’ayin, Agent Vi is a veteran startup founded in 2003 when the Israeli startup scene had several startups developing smart cameras for security installations. Related Articles Security: Global Names Agent Vi Among Market Influencers Agent Vi Launches Real-Time Video Analysis.Israeli Video Analytics Agent Vi Raised $6 Million Agent Vi developed intelligent systems to identify suspicious or irregular objects using video cameras at airports and terminals Energy, universities and more and for smart cities. Systems operators can determine for themselves what should be considered suspicious behavior, and the system then issues alerts when relevant incidents occur. For example, a car parked on the side of the road, an unattended ejection, or a gathering of people. Suspects or packages can continue to be monitored according to colors or clothing. Agent Vi sells its products directly to cities, electric companies and infrastructure companies who integrate them into their command and control systems. The company’s partners include Siemens, Convergint and G4S. Irisity was founded in 2008 and operates in the same field with most of its products sold in Europe. Agent Vi has raised $30 million from investors including Motorola Solutions, 21 Ventures, Indigo Global and Chinese technology company Kuang Chi, although some investors have since sold their stakes. The company was sold for disappointing returns of about 2.5 of the amount of money raised, and it has annual revenue of about $7 million on the SaaS business model. Agent Vi is founded by Gadi Talmon and Zvika Ashani and run by CEO Itsik Kattan. The company has 40 employees in Israel, the United States and Singapore. “The merger created a global leader in advanced AI video analytics for security and surveillance with unparalleled capabilities and a product portfolio,” said Irisiti. Published by Globes, Israel business news – en.globes.co.il – September 5, 2021 Copyright Globes Publisher Itonut (1983) Ltd. 2021