The South Korean company IDIS announces that its acquisition of Costar Technologies, Inc., a US provider of electronic security products, has been completed. IDIS says that it and Costar have enjoyed a long-term existing ODM relationship; about 60 per cent of Costar Video products are already made by IDIS. The acquisition builds on the ties between the two companies and will catalyse strategic synergies including a deeper focus on potential growth sectors, according to the firms.
Costar has a sales channel of over 100 distributors and 1,000 systems integrators across the United States while IDIS technology is NDAA-compliant, the company stresses. They say that the acquisition will result in mutual benefits for both. As the management and sales teams merge, customers will be able to buy Costar and IDIS solutions from either company.
With demand continuing to increase for end-to-end solutions, the firms say Costar’s sales channel will benefit from IDIS’ one-stop-shop model, offering what systems integrators need to design and implement a video surveillance and deep learning analytics solution. IDIS points to profit protection benefits for integrators in terms of a single point of contact for pre-sales, sales, and technical support.
Scott Switzer, Chief Executive Officer, Costar Technologies, Inc, said: “The Costar and IDIS teams have over 20 years of partnership experience, and we are excited to be merging with a vibrant video tech company With its rapid growth, expanding product line, and reputation for exceptional quality, IDIS combined with Costar’s sales network is poised to make significant inroads in the US market.”
Costar’s Arecont Vision is in the multi-imager and ruggedized camera markets and its line-up will extend IDIS’ range and enable expansion not only geographically, but also support IDIS’ penetration into new vertical markets, the firms add.
Joon Jun, President of the Global Business Division and Senior Executive Vice President, IDIS, said: “IDIS’ growth strategy has always been focused on building long-term relationships with local partners and customers. Leveraging Costar’s established distribution networks and sales channels in North America is reflective of that strategy. We are very proud to be uniting with Costar and making our entire IDIS range of advanced technologies and resources available to our combined customer base.”
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