11:05 | 14/01/2019 Companies
(VEN) - Motorola Solutions, Inc. (NYSE: MSI) 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 will join Motorola Solutions’ Software Enterprise, the team responsible for creating the company’s integrated public safety software suite.
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.
The company’s research and development operations are based in Vietnam where it has more than 40 employees working in the specialised areas of software engineering, artificial intelligence and data analytics.
“This acquisition expands Motorola Solutions’ data and analytics capabilities, complementing our public safety software and analytics suite and Avigilon video and analytics platform,” said Greg Brown, chairman and CEO, Motorola Solutions. "VaaS will enhance Motorola Solutions’ software portfolio with vehicle location information that can help first responders shorten response times, improve the speed and accuracy of investigations and create safer cities.”
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.
“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.