Motorola Solutions Acquires VaaS International Holdings, Leader in Data and Image Analytics for Vehicle Location
07 Gennaio 2019 - 4:24PM
Business Wire
Acquisition complements Motorola Solutions’ command center
software suite
Motorola Solutions, Inc. (NYSE: MSI) today announced it has
acquired VaaS International Holdings, Inc. (VaaS), a data and image
analytics company based in Livermore, California and Fort Worth,
Texas. Motorola Solutions paid a purchase price of $445 million in
a combination of cash and equity.
VaaS, a “video analysis as a service” company, is a leading
global provider of data and image analytics for vehicle location.
The company’s image capture and analysis platform, which includes
fixed and mobile license plate reader cameras driven by machine
learning and artificial intelligence, provides vehicle location
data to public safety and commercial customers. Its subsidiaries
include Vigilant Solutions for law enforcement users and Digital
Recognition Network (DRN) for commercial customers. The company’s
2019 revenues are expected to be approximately $100 million.
“Automated license plate recognition is an increasingly powerful
tool for law enforcement,” said Greg Brown, chairman and CEO,
Motorola Solutions. “With this acquisition, VaaS will expand our
command center software portfolio with the largest shareable
database of vehicle location information that can help shorten
response times and improve the speed and accuracy of
investigations.”
VaaS’ platform enables controllable, audited data-sharing across
multiple law enforcement agencies. Vehicle location information can
help accelerate time to resolution and improve outcomes for public
safety agencies, particularly when combined with police records.
For example, law enforcement has used VaaS’ solutions to quickly
apprehend dangerous suspects and find missing persons.
“We are very excited to be joining Motorola Solutions,” said
Shawn Smith, co-founder of VaaS and president of Vigilant
Solutions. “This acquisition enables us to continue to serve our
existing customers and expand our footprint globally, while at the
same time supporting a company with a commitment to innovation and
growth, guided by a common purpose that aligns with our mission and
culture: ‘To help people be their best in the moments that matter.’
It doesn’t get any better than that.”
“Our extensive license plate data and AI technology have opened
new commercial applications of our products,” said Todd Hodnett,
co-founder of VaaS and president of Digital Recognition Network.
“We believe commercialization of these new applications can be
accelerated under the Motorola Solutions brand and reach, and we
look forward to working together to grow and diversify our
commercial business.”
License plate reading is a highly specialized practice that
requires purpose-built cameras and analytics. VaaS’ fixed and
mobile license plate reader cameras can capture and analyze license
plate information, which differs greatly by state and country, even
when vehicles are moving at high speeds or in low-visibility
weather conditions.
About Motorola Solutions
Motorola Solutions is a global leader in mission-critical
communications. Our technology platforms in communications,
software, video and services make cities safer and help communities
and businesses thrive. At Motorola Solutions, we are ushering in a
new era in public safety and security. Learn more at
http://www.motorolasolutions.com.
About VaaS International Holdings, Inc.
VaaS International Holdings, Inc. (Video Analysis as a Service)
is a leading global provider of AI-driven image capture and
analysis technology. VaaS solutions and services are shaping
communities across the globe by giving local, state and national
agencies, as well as small and large businesses and corporations,
the tools to better manage risk and prevent or solve crimes with
real-time analysis. For more information, visit
http://vaasinternational.net.
Motorola Solutions Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of applicable federal securities law. These statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and generally include
words such as “believes,” “expects,” “intends,” “anticipates,”
“estimates” and similar expressions. The company can give no
assurance that any actual or future results or events discussed in
these statements will be achieved. Any forward-looking
statements represent the company’s views only as of today and
should not be relied upon as representing the company’s views as of
any subsequent date. Readers are cautioned that
such forward-looking statements are subject to a variety of
risks and uncertainties that could cause the company’s actual
results or events discussed in these statements to differ
materially from the statements contained in this release.
Such forward-looking statements include, but are not limited
to, Motorola Solutions’ ability to integrate the products and
services into its portfolio and offer to customers and the expected
revenues for VaaS International Holdings. Motorola Solutions
cautions the reader that the risk factors below, as well as those
on pages 8 through 20 in Item 1A of Motorola Solutions 2017 Annual
Report on Form 10-K on page 44 in Item 1A of Motorola Solutions’
Quarterly Report on 10Q for the quarter ended June 30, 2018, and in
its other SEC filings available for free on the SEC’s website
at www.sec.gov and on Motorola Solutions’ website
at www.motorolasolutions.com/investor, could cause Motorola
Solutions’ actual results or events discussed in these statements
to differ materially from those estimated or predicted in
the forward-looking statements. Many of these risks and
uncertainties cannot be controlled by Motorola Solutions and
factors that may impact forward-looking statements include,
but are not limited to the future results of operations of VaaS
International Holdings and Motorola Solutions’ ability to
successfully integrate and operate VaaS International
Holdings. Motorola Solutions undertakes no obligation to
publicly update any forward-looking statement or risk factor,
whether as a result of new information, future events or
otherwise.
MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are
trademarks or registered trademarks of Motorola Trademark Holdings,
LLC and are used under license. All other trademarks are the
property of their respective owners. ©2019 Motorola Solutions, Inc.
All rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20190107005696/en/
Media ContactBrittany KellyMotorola Solutions+1
224-246-3914brittany.kelly@motorolasolutions.com
Investor ContactChris KutsorMotorola Solutions+1
847-576-4995chris.kutsor@motorolasolutions.com
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