Swedish video analytics company Irisity is acquiring Agent Video Intelligence (Agent Vi), a provider of AI-powered open architecture video analytics solutions, for a total consideration of approximately $67m in cash and shares of Irisity.
Agent Vi’s offering includes software products for automatic analysis of live or recorded surveillance video, allowing real-time detection of events of interest and quick extraction of events and data from recorded video. Agent Vi’s solutions can be deployed on-premise on the customer’s infrastructure or delivered as a cloud-based SaaS and are fully integrated with various third-party cameras, encoders, video management systems and alarm automation software.
Founded in 2008, Irisity develops and markets video analytics software products for improved security and surveillance and is publicly listed in the Nasdaq First North Growth market in Stockholm.
Through the acquisition and merger of Irisity will offer a broad range of SaaS solutions for automatic analysis of surveillance footage and real-time video streams.
Together, the companies have global operations with offices in Sweden, Israel, the USA, and Singapore, a network of over 1,000 resellers and partnerships with dozens of leading security monitoring companies.
The transaction is expected to close during Q4 2021, subject to customary closing conditions.