Panasonic Corporation (Osaka, Japan) has entered into an agreement to acquire all shares of Houston TX-based Video Insight, Inc., developer of video management software, as part of its strategy to expand business opportunities for both companies in the education market in North America. Founded in 2002, Video Insight provides enterprise-class video management solutions for security systems to more than 25,000 customers in the financial, government, retail and transportation sectors, as well as 6500 schools and campuses. Panasonic Group has set a clear target of reaching 10 trillion yen in sales by 2018, and B2B solutions, including security systems and video surveillance, will play an important part in achieving this high growth globally.
As customer needs in the video surveillance market become more diversified, video management software with the ability to easily integrate multiple devices will become even more important. Adding Video Insight to the Panasonic Group enhances the Panasonic portfolio and broadens its reach into education. Video Insight Chief Executive Officer J. Robert Shaw said, “We believe this partnership will help us accelerate innovation, enhance product development and allow us to provide our customers with better security solutions for years to come”.
As part of the agreement, Video Insight will remain under the leadership of its founders, J. Robert Shaw and James Whitcomb, to continue to evolve the open platform system that today supports more than 2500 camera models from more than 100 manufacturers, and integrates across the most popular access control platforms.