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Arecont Vision Costar Announces New Beginning and Plans for Future Growth (SDM Magazine, October 2018)

10/09/2018 News Articles

Arecont Vision Costar, a provider of IP-based megapixel cameras and video surveillance solutions, announced its key product portfolio, business plans and executive leadership team following the initial launch of the business in July 2018.

The new company is a business unit of Costar Technologies Inc., Coppell, Texas, that designs, develops, manufactures and distributes a wide range of products for the video surveillance and machine vision markets.

Arecont Vision Costar continues to base its headquarters, R&D, manufacturing and support facilities in Glendale, Calif., taking over the building formerly occupied by its predecessor business, Arecont Vision, LLC. The majority of employees and the executive leadership team transitioned to the new business, as did all existing products, technologies, patents and trademarks of the original company.

“We’re very excited to have a new beginning for Arecont Vision Costar, with a great strategic fit that builds on our predecessor’s pioneering legacy of megapixel camera technology leadership, while leveraging the resources and expertise of Costar Technologies,” stated Raul Calderon, president, Arecont Vision Costar. “The result is that our customers can be confident not only of our financial health and long-term future, but also in purchasing our new Arecont Vision Total Video Solution to meet their surveillance system needs.”

The Total Video Solution is composed of megapixel cameras (MegaIP and ConteraIP series), cloud-enabled video management software (ConteraVMS and ConteraWS web services), and cloud-managed video recorders (ConteraCMR). Authorized security dealers and systems integrators are able to offer a complete, web-enabled solution or any of the individual product series in integration with a customer’s existing cameras, video management software, or recording platforms. ONVIF compliance and the company’s API, which is available through the Technology Partner Program, help to ensure integration with 3rd party hardware and software.

The original Arecont Vision LLC was founded in 2003 and announced a reorganization under voluntary Chapter 11 in May 2018. This was undertaken to clear the company of outstanding debt and to simplify the sale of the entire business in order to secure new investment. Costar was the winning bidder, and the transaction was completed on July 13, 2018 with the launch of Arecont Vision Costar LLC.

“The acquisition of Arecont Vision expands the Costar Technologies’ video surveillance platform by strengthening our product line,” said James Pritchett, president and chief executive officer, Costar Technologies, Inc. “This purchase supports Costar’s strategy to become a leader in the video surveillance industry, transitioning from a value-added OEM product company into a manufacturing and design business. Along with our other recent acquisitions, the Arecont Vision acquisition increases our manufacturing and design from approximately 50% to 75% of our revenue.”

Calderon, formerly chief operating officer and general manager of Arecont Vision LLC now serves as president of Arecont Vision Costar. Kyle Parker is VP, Americas sales; Sanjit Bardhan is VP, international sales; and Mitch Fagundes is VP, global strategic accounts. Brad Donaldson continues as VP, product development; Jeff Whitney is VP of marketing; and Edmond Deravanessian is VP of finance.

 

Souece: SDM Magazine

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