Arlo to provide SaaS platform services, AI
analytics, and innovative products in support of Verisure's
growing European business for another five years
SAN
JOSE, Calif., May 9, 2024
/PRNewswire/ -- Arlo Technologies, Inc. (NYSE: ARLO), a
leading smart home security brand, announced today the renewal of
its strategic partnership agreement with Verisure, the leading
provider of monitored security solutions in Europe. Under the terms of the partnership,
which will continue until 2029, Arlo will continue to be an
important supplier to Verisure, delivering cloud platform services,
AI computer vision solutions, AI-powered security services, and
innovative products to support Verisure in both its retail business
and direct security channel, which have more than 5M customers across Europe and Latin
America today.
Arlo offers an award-winning portfolio of smart security
services and devices based on nearly a decade of innovation and
intellectual property. This deep expertise in software, artificial
intelligence, computer vision, wireless connectivity, product
design, and cloud infrastructure is focused on delivering a
seamless, smart home security experience for users that is simple
to set up but powerful in capabilities. Paired with Verisure's
leading security ecosystem and professional monitoring, Arlo and
Verisure will continue to work together to deliver best-in-class
security solutions to customers across Europe.
"Our companies have a shared vision to provide excellent
security solutions and I am proud of what we have accomplished
together in the first term of the partnership," said
Matthew McRae, CEO of Arlo Technologies. "I look forward to
supporting Verisure for another five years as they continue to
grow, innovate, and serve the European region with a truly
outstanding security solution."
Verisure is the leading European provider of professionally
monitored security systems with 24/7 response services. The
company's mission is to bring peace of mind to families and small
business owners by providing them with the best security solutions
and services. Verisure is known for category-creating marketing,
sales excellence, innovative products and services, and
customer-centricity. Verisure also has a highly satisfied and loyal
customer base, with some of the strongest growth rates and best
retention rates globally in consumer-facing services, demonstrating
its exceptional service levels and strong value proposition to its
customers.
About Arlo Technologies, Inc.
Arlo is an
award-winning, industry leader that is transforming the ways in
which people can protect everything that matters to them with
advanced home, business, and personal security solutions. Arlo's
deep expertise in AI- and CV-powered analytics, cloud services,
user experience and product design, and innovative wireless and RF
connectivity enables the delivery of a seamless, smart security
experience for Arlo users that is easy to set up and interact with
every day. Arlo's cloud-based platform provides users with
visibility, insight, and a powerful means to help protect and
connect in real-time with the people and things that matter most,
from any location with a Wi-Fi or a cellular connection. Arlo has
recently launched several categories of award-winning connected
devices, software, and services. These include wire-free, smart
Wi-Fi and LTE-enabled security cameras, video doorbells,
floodlights, security system, and Arlo's subscription services:
Arlo Secure and Arlo Safe.
With a mission to bring users peace of mind, Arlo is as
passionate about protecting user privacy as it is about
safeguarding homes and families. Arlo is committed to implementing
industry standards for data protection designed to keep users'
personal information private and in their control. Arlo provides
enhanced controls for user data, supports privacy legislation,
keeps user data safely secure, and puts security at the forefront
of company culture.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995:
This press release contains
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. The words "anticipate,"
"expect," "believe," "will," "may," "should," "estimate,"
"project," "outlook," "forecast" or other similar words are used to
identify such forward-looking statements. However, the absence of
these words does not mean that the statements are not
forward-looking. The forward-looking statements represent Arlo
Technologies, Inc.'s (the "Company" or "Arlo") expectations or
beliefs concerning future events based on information available at
the time such statements were made and include statements regarding
lowering the barrier of entry and broadening the market for DIT
security and Arlo cameras, Arlo video doorbells, Arlo Secure, Arlo
Secure Plus, and future Arlo products. These statements are based
on management's current expectations and are subject to certain
risks and uncertainties, including the following: future demand for
the Company's products may be lower than anticipated; consumers may
choose not to utilize payment plans or to adopt the Company's new
product offerings, or may adopt competing products; and product
performance may be adversely affected by real-world operating
conditions. Further, certain forward-looking statements are based
on assumptions as to future events that may not prove to be
accurate. Therefore, actual outcomes and results may differ
materially from what is expressed or forecast in such
forward-looking statements. Further information on potential risk
factors that could affect Arlo and its business are detailed in the
Company's periodic filings with the Securities and Exchange
Commission, including, but not limited to, those risk factors
described in the Company's most recently filed Annual Report on
Form 10-K and Quarterly Report on Form 10-Q and subsequent filings
with the Securities and Exchange Commission. Given these
circumstances, you should not place undue reliance on these
forward-looking statements. Arlo undertakes no obligation to
release publicly any revisions to any forward-looking statements
contained herein to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/arlo-and-verisure-extend-strategic-partnership-302141488.html
SOURCE Arlo Technologies, Inc.