Panasonic Corporation of North America announced recently that it has acquired Video Insight, Inc.
Panasonic is a major global supplier of video surveillance equipment. Video Insight, Inc is a supplier of video management solutions with a focus on its own video management software (VMS).
With acquisitions there are often overlaps in product lines. In the case of Panasonic, the company does produce video management software, yet, it not been a cornerstone of the organization’s Americas video surveillance business. In addition to gaining the expertise of Video Insight in VMS solutions, Panasonic gains a strong customer base in the Americas education sector. Video Insight’s own acquisition announcement quotes over a quarter of their customers in this space.
IHS estimated that in 2013 the education end-user sector was the largest for sales of network video surveillance equipment in terms of supplier revenues in the Americas region. In the US particularly improving campus security from kindergarten to college has been high on the agenda for a number of years. This sector is forecast to remain the largest with revenues from equipment sales to grow at over 19% CAGR (2013-2018).
With acquisition of Video Insight, Panasonic expands its potential to tap into this lucrative sector.