Subscribe to RSS - Security Systems News

Security Systems News

BRS Labs to get new CEO, build cloud facility, do IPO

 - 
Wednesday, August 13, 2014

BRS Labs has a full plate in the next month--it's working on finding a new CEO, finding a spot to build its own cloud facility, and it's prepping for an IPO.

BRS Labs is a provider of “self-learning behavioral recognition software," which its sells as an enterprise software solution, for monthly lease, or as "software-as-a-service. BRS Labs president John Frazzini recently announced during a Fox Business News interview that the company--(which he said he has a stake in) would be doing an IPO.  In a news release, the company today announced that the search is on for a new CEO who will take charge of the IPO process.

It is also planning to move its headquarters to a new location in Houston and plans to build a cloud storage facility in that location.

The goal is to raise funds to move into more vertical market segments, the company announced today.

I hope to catch up with Frazzini at the ASIS show next month to get an update on these initiatives.

BRS Labs was founded by Ray Davis in 2005 and Davis has served as CEO since that time. He is stepping down as CEO but role will continue as chairman for the immediate future and will head up the search for a new CEO. Davis said in a statement that he will concentrate his search in Houston.

“The company plans to find a Houstonian who understands the value of a public company in this market, and who has previous operational experience leading a company through the process of going public,” according to a company statement.

BRS Labs’ is known for its AISight platform, an “artificial Intelligence-based analytics solution that teaches itself to recognize and alert on suspicious or unexpected behavior within massive volumes of data.”

In a prepared statement, Davis said he’s “always loved building and running companies and have done so for thirty-five years. Based on the growth we have experienced here at BRS Labs, the time is right for us to take the company public, and we need to bring in an individual who has expertise in this area. I will continue to serve in my role as Chairman until that person is comfortably in place and positioned to take BRS Labs to the heights we know it is capable of reaching.”

BRS Labs says it “owns an approximate 60 percent share of the video analytics market.”

It recently expanded into Supervisory Control and Data Acquisition (SCADA) industry for oil and gas as well as other Smart Utility Grids.

Further expansion into other vertical markets is planned. One of the reasons the company plans to go public is “to raise funds to expand into Information Security, Building Management Systems, and other big data applications.”

“Our Artificial Intelligence-based technology has dominated the initial market we applied it to: video analytics,” Davis said in a statement.

“It is now time to take this proven technology and address the other serious safety and security issues facing the world today. …We need to rapidly and simultaneously move into these new vertical markets to explore the many ways in which our technology can be used, while expanding our footprint in existing markets.”

 Davis said that access to public funds “will position us for simultaneous penetration into these markets and allow us to expand the company while producing exponential returns for our investors.”

BRS Labs currently works with third-party cloud providers, but it will provide in-house cloud storage to its customers once it moves to a new location in Houston.

In addition to its headquarters in Houston, BRS Labs has offices in Washington, DC, London, Sao Paulo, and Barcelona.

 

Anixter to acquire Tri-Ed for $420 million

Anixter gets branch network, 20k dealers, intrusion and fire capability, access to resi and small business sector
 - 
08/11/2014

GLENVIEW, Ill.—Today, Anixter International announced that it will acquire Tri-Ed for $420 million, so now Tri-Ed, which had aspirations to become a "billion dollar distribution business," will be part of a $1.7 billion security distribution company.

College goes with mobile security for graduation

CCNY uses IPVideo mobile command to secure 7,000 in open-air event
 - 
08/06/2014

NEW YORK—City College of New York expected 7,000-plus people to attend its outdoor graduation ceremonies held in a parking lot this past May. Security across the campus, which spans several blocks, was in place but not for a crowd of that size in one spot.

FIMI to be Magal’s majority shareholder

 - 
08/04/2014

YAHUD, Israel—Magal Security Systems, a provider of solutions and products for physical and cyber security, announced July 30 that FIMI Opportunity Fund, a private equity fund based in Israel, has entered into an agreement with Ki Corporation Limited, to acquire from Ki approximately 40 percent of Magal’s outstanding shares at a price of $3.50 per share.

Proximex debuts ‘entry level’ PSIM

 - 
08/04/2014

WESTFORD, Mass.—Proximex, part of the Security Products business unit of Tyco, on Aug. 4 introduced Surveillint Essentials, an entry-level PSIM solution.

Brian Wiser named Bosch Security Systems president of sales for North America

 - 
08/04/2014

FAIRPORT, N.Y.—Brian Wiser has been named president of sales, North America, for Bosch Security Systems. In this position, he will lead the sales, support, training, customer service and marketing organizations in North America.

Speco woos integrators with IP savvy

 - 
Thursday, July 31, 2014

Speco Technologies, a video surveillance manufacturer based in New York, may be best known for its analog solutions, but it is well into IP-based technology these days.

Today, Speco counts 25 of the largest and most sophisticated independent integrators in the U.S as its valued resellers, with Protection 1 as one of its marquee customers.

These are relationships the Speco management team has actively pursued. And, their pursuit of integrators has just begun, they say. The company’s sales, engineering, marketing, training and management are eager to talk about what they’re doing daily to increase the number of security systems integrators who turn to Speco for easy to use, innovative IP-based video technology.

I visited Speco this week, got a look at their headquarters in Amityville, the manufacturing and training operation and had a chance to hear Speco executives talk about their strategy.  

In business since the early 1960s. Speco is a privately held business owned by the Keller family. The company went private on Sept. 10, 2001, the day before the horrific events of September 11, 2001.  

Todd Keller, Speco president and owner, said the business employs about 100 people. In 2008 it broke $100 million in revenue, today it’s “headed back to about $85 million” in 2014 revenue. The company is selling more products, but prices for many products have come down.

All of its products are assembled here at its headquarters in New York and most everything is engineered here or “outsourced in America.” Keller and other management believe that being family-owned gives Speco an advantage over corporations. "We have the flexibility to pursue ideas, to engineer, innnovate, design," TJ Dickson, VP sales and marketing said, adding that Speco constantly tests and evaluates, and re-evalutates its products. It does the same with competitors' products, he said.

It has a warehouse in Amityville and a new warehouse in Reno, Nevada which it opened in April. This new warehouse houses $3 million in inventory and enables Speco to get products to distributors in the west much more quickly and inexpensively.

Corporations use "voice of the customer" Dickson said. "They hear the customer, but I'm not sure they listen to the customer." Because Speco is not a giant corporation, it is able to implement changes quickly, he said.

Speco is well known for some signature products: two way audio; Digital Deterrent; inventing (Keller says) the bullet camera; its wall-mounted DVR. It's also known for private labeling its products for customers large and small. Keller said he'd much rather have an installer's name on a product than Speco's name, saying that if they sell more "Speco wins."

Speco is also well known for its "Intensifier" technology, which several years ago made it possible for analog cameras to "see" in the dark and low light conditions. This September Speco is planning an "all out blitz" to launch its Intensifier technology built into HD IP cameras, according to Peter Botelho, EVP and GM at Speco Technologies.

"It will be a very aggressive launch aimed at a target group of integrators," he said. Botelho said Speco has taken its time and "worked to get it right." Some competitors have similar technology, he said, "but it doesn't perform like ours and when you add [Speco's lower] price point, this is a potential big win for us in IP," he said.

Speco also last week released its SecureGuard Plus, a VMS that "provides access to multiple DVRs, NVRs and IP cameras for remote viewing, playback and other functions." It does not have licensing fees. Botelho said that SecureGuard Plus is "all American programming, American processing, and an All-American idea" that was developed with input from the SecureGuard User Group, which consists of 15 to 20 integrators.  He called SecureGuard Plus "a VMS with some serious plans to take it way beyond [the traditional] VMS." Future versions of this software will "have special features and integrate with some things that we believe others haven't thought of."

Where's Speco heading in terms of software engineering? Developing software that "runs all peripheral devices and does something with the all the data that's collected," Botelho said. "We are well positioned to move into that space," he said. Why? "More than anything we have a management team that has the ability to understand what's really happening at the installer level. ... and that comes from listening," Botelho said.

Speco "listens" in many ways. Its Tech Support department takes between 300 and 500 calls per day. At the end of every month, Speco takes the top 10 issues its Tech Support department has dealt with, assesses those issues, solves them with other department input if necessary and "turns them into a positive," Keller said.

It does the same thing with the products themselves. Speco has a 2 percent rate of return and defective rate of less than a half a percent. All of the returned products are assessed as well. If, for example, a number of products have been returned because they've been damaged by a lightening strike, this may not be a defect, but this is good information for Speco engineers to have as they design a newer version of the product, Keller explained. 

Speco also "listens" to its customers during training sessions. It has invested significantly in bringing its dealers to its headquarters for training. This year it has done more than 100 trainings so far in 2014. It has had 10 different distributors, dozens of independent integrators and all of Protection 1's national account managers to its headquarters this year.

Trainings held at the headquarters are the most effective, Dickson said, because Speco has a chance to talk about the company as well as the products.

Botelho said he also sees the trainings as "built-in focus groups" where engineering, marketing or sales people can learn what Speco customers are looking for.

However, it's important, Dickson said, to be able to execute on what you learn from customers. He said Speco can do this and cited a recent example of an integrator who wanted a special feature on its wall-mounted DVRs, a button that would flash and alerting a local store manager to push the button to download video. "We had it done, designed and the software written within a week. They were blown away," Dickson said.

 

 

Michael Dell makes ‘multi-million dollar’ investment in VMS provider Eagle Eye Networks

Enrique Salem of Symantec and Austin Ventures also participated in Series B funding
 - 
07/31/2014

AUSTIN, Texas—In his first personal investment in physical security, Michael Dell, founder and CEO of Dell Inc., today announced a “multi-million dollar” investment in VMS provider Eagle Eye Networks.

Vivint creates CSO position, hires federal cyber expert Joe Albaugh

New Vivint CSO Albaugh was security chief at DOT, FAA
 - 
07/30/2014

PROVO, Utah—Joe Albaugh, who today joined Vivint in the newly created position of chief security officer, brings significant cyber expertise, having previously served as chief information security officer at the U.S. Department of Transportation and also at the Federal Aviation Administration.

More in store for Samsung ‘Eco Partners’

Camera manufacturer enhances ‘STEP’ program, launched at ISC West
 - 
07/25/2014

RIDGEFIELD PARK, N.J.—Samsung’s strategic partners can more easily submit project registration, access training, and up-to-date pricing and other product information as part of enhancements the camera manufacturer is making to its Samsung Techwin Eco Partners (STEP) program.

Pages