Eagle Eye Networks has acquired artificial intelligence leader, Uncanny Vision, accelerating the company’s ability to provide AI and analytics to make customers’ businesses more efficient and the world a safer place. The acquisition also includes research and development capabilities and a new regional office in Bangalore, India.
“After evaluating more than a dozen AI companies, we began working with Uncanny Vision in 2020. It didn’t take long for us to conclude that Uncanny Vision is the clear leader in surveillance AI,” said Dean Drako, Eagle Eye Networks’ CEO.
The deal accelerates Eagle Eye’s plan, announced in November 2020, when Eagle Eye raised funds from venture capital firm Accel, to dramatically reshape video surveillance. Uncanny Vision’s deep learning algorithms enable recognition, identification and prediction, improving business operations, customer service and site safety. Uncanny Vision’s award-winning AI is used today in multiple applications, including:
• Smart parking.
• Retail analytics.
• Gate security.
• Toll automation.
• Smart cities.
• ATM monitoring.
• Worker safety.
• Perimeter security.
Drako said, “Uncanny Vision’s tools for training, building and optimising models and its infrastructure for managing and storing training data are superior. This is a key component we’re excited to add to the Eagle Eye Networks platform.”
All 60 Uncanny Vision employees will be retained and Eagle Eye plans to expand the Bangalore office. Eagle Eye is committed to supporting Uncanny Vision’s current customers and will continue to build its global infrastructure to provide the best 24/7 support to its customers around the world.
Uncanny Vision co-founders, Ranjith Parakkal and Navaneethan Sundaramoorthy, have joined the Eagle Eye leadership team. Parakkal said, “We share the Eagle Eye team’s vision to deliver advanced, cybersecure AI cloud video surveillance offerings that transform video surveillance for businesses around the globe.”
“The economic model of delivering subscription-based AI on a per-camera basis through a global cloud infrastructure will ignite growth for security integrators who are otherwise challenged with how to build a financially stable business,” said Alper Cetingok, managing director and head of the Security and Safety Practice at Raymond James (Raymond James and Associates was not a party to the transaction).
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