Motorola Solutions acquires VaaS International Holdings
Chicago, IL-based Motorola Solutions, Inc. announced on January 7 it has acquired VaaS International Holdings, Inc., a data and image analytics company based in Livermore, CA and Fort Worth, TX. Motorola Solutions paid a purchase price of $445 million in a combination of cash and equity.
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.
“Automated license plate recognition is an increasingly powerful tool for law enforcement,” said Greg Brown, chairman and CEO, Motorola Solutions. “With this acquisition, VaaS will expand our command center software portfolio with the largest shareable database of vehicle location information that can help shorten response times and improve the speed and accuracy of investigations.”
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.
“We are very excited to be joining Motorola Solutions,” said Shawn Smith, co-founder of VaaS and president of Vigilant Solutions. “This acquisition enables us to continue to serve our existing customers and expand our footprint globally, while at the same time supporting a company with a commitment to innovation and growth, guided by a common purpose that aligns with our mission and culture: ‘To help people be their best in the moments that matter.’ It doesn’t get any better than that.”
Source: Motorola Solutions