Panasonic Corporation of North America announced on Tuesday that it has entered into an agreement to acquire all shares of Houston, Texas-based Video Insight Inc., a 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 6,500 K-12 school and college customers.
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. "We're excited and honored to partner with the Panasonic Group," Video Insight CEO J. Robert Shaw said in a statement. "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, Shaw and James Whitcomb, to continue to evolve the open platform system which today supports more than 2,500 camera models from over 100 manufacturers and integrates across the most popular access control platforms.
