LOS ANGELES–(BUSINESS WIRE)–Oct 23, 2019–
Imperial Capital, LLC (“Imperial Capital”) announced that it served as the exclusive financial advisor to OpenEye in its majority sale to smart home and business security provider Alarm.com (NASDAQ: ALRM).
OpenEye is a leading provider of cloud-managed solutions for video security, business intelligence, and loss prevention. With the acquisition, OpenEye will be a subsidiary of Alarm.com. Through combining OpenEye’s commercial market applications with Alarm.com’s business offering, service providers partnered with Alarm.com now have a best-in-class solution to accommodate commercial accounts of any size. OpenEye is optimized for enterprise-level commercial customers requiring expansive video recording capabilities, in addition to remote viewing, administration and diagnostic reporting.
OpenEye’s intelligent cloud architecture efficiently distributes video and event data to maximize control for both onsite command center operators and remote administrators. The unique hybrid solution delivers the high-resolution long-term storage, low bandwidth consumption, and centralized cloud management that enterprise users demand. OpenEye is currently utilized at over 14,000 business locations in the U.S. and Canada.
“OpenEye represents the future of cloud managed video solutions, allowing commercial and enterprise users to take advantage of the convenience and flexibility offered by the cloud based structure. By combining forces with Alarm.com, OpenEye has greatly expanded its resources to continue industry leading growth,” said John E. Mack III, Executive Vice President and Co-Head of Investment Banking at Imperial Capital.
“OpenEye has consistently demonstrated that they are the unequivocal leader in the video-surveillance-as-a-service space and we are excited to help the team continue growing their business,” said Steve Trundle, president and CEO of Alarm.com. “OpenEye has a robust customer and partner list and our top priority is to ensure they all continue to experience great service. The addition of OpenEye will enhance the offerings available to Alarm.com partners in the commercial space. With the ongoing transition from traditional on-premise products to VSaaS, we’re creating new value for subscribers and additional RMR opportunities for our partners.”
“We’re excited about this next step in our evolution as the leader in cloud-based VSaaS,” said Rick Sheppard, CEO of OpenEye. “Alarm.com is the platform of choice for thousands of service providers that demand innovation and exceptional customer service. Combining their wide array of partner tools and resources with our capabilities will provide our partners with solutions that are second-to-none.”
About Imperial Capital, LLC
Imperial Capital, founded in 1997, is a full-service investment banking firm with offices in Los Angeles, New York, London, Stamford, Boston, Chicago, Houston and Tel Aviv. The firm currently employs over 200 professionals and offers a wide range of proprietary products and services to institutional investors, middle market companies and private equity firms. Imperial Capital provides institutional clients research and sales and trading of high yield and distressed debt securities, bank debt, convertible bonds, preferred stocks, and equities. The firm provides middle market companies and financial sponsors with capital markets, merger and acquisitions, capital structure, restructuring and recapitalization advisory services. More information about Imperial Capital can be found at www.imperialcapital.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191023005863/en/
CONTACT: Imperial Capital
Corporate Finance Manager
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: AUDIO/VIDEO FINANCE BANKING DATA MANAGEMENT CONSUMER ELECTRONICS PROFESSIONAL SERVICES TECHNOLOGY SECURITY
SOURCE: Imperial Capital, LLC
Copyright Business Wire 2019.
PUB: 10/23/2019 08:58 PM/DISC: 10/23/2019 08:58 PM
Copyright Business Wire 2019.