MT. LAUREL, N.J., June 21 /PRNewswire/ -- TimeSight Systems, the industry leader in the practice of video lifecycle management (VLM) for video surveillance, announced today the receipt of a spate of awards for both the company and key executives, as TimeSight continues to gain strong visibility in the emerging digital video surveillance market.
This week, TimeSight Systems has been named to the AlwaysOn East Top 100 (AOE100) Private Companies list. The AOE100 represent the top emerging companies from the east coast that are demonstrating significant market traction and pursuing game-changing technologies in on-demand computing, digital media, and Greentech. This follows TimeSight's selection earlier this year from a large field of east coast-based companies as the "Most Likely to Achieve an Exit" at the 2010 NJTC Venture Conference.
"We're pleased to see that our technology is attracting attention and receiving recognition for the strong value proposition that it carries," stated Charles Foley, CEO of TimeSight Systems. "The surveillance and security market is strong right now for a reason, as these systems are a needed part of the infrastructure worldwide. However, in today's economic times, users need to find a way to deliver critical services at a lower cost than ever before. And that is exactly what we deliver."
In addition, this week, TimeSight Systems' CFO Geoff Lapres has been honored at the 2010 NJTC CFO Awards, an event that recognizes the accomplishments of financial executives from New Jersey and the surrounding region's diverse technology companies. Lapres was recognized for his ability to drive sound business and financial controls and strategies which have led to successful exits of three prior companies in the form of one IPO, and two acquisitions.
"The New Jersey region has a large number of exciting technology, biotech, communications, and service companies," stated Geoff Lapres, CFO of TimeSight Systems. "As such, it was truly an honor to be recognized in this group of financial leaders. I think it speaks well about our team, our technology, and our potential."
The market for the storage and recording of digital surveillance data is expected to top $5 billion in 2010, according to industry analyst firm Frost & Sullivan, driven by the increasing installation of high resolution, networked cameras. As such a large market, it has attracted significant investment in technological innovation. TimeSight's unique VLM technology allows users to deploy large numbers of high-resolution cameras, with greatly extended retention of the security data, on up to 90% less storage than is required on competitive systems. This firm 'return on investment' strategy has enabled the company to attract great attention from the industry at large, including large private, government, and educational users.