BAY SHORE, NY – April 8, 2013 – IPVideo Corporation, an Advance Convergence Group company, headquartered in Bay Shore, New York, a pioneer in the development and implementation of Physical Security Information Management (PSIM) solutions, Fusion Center Solutions and Video Management Systems (VMS), announced today that the company has received significant funding for expansion and product development from Westbury Partners, a leading provider of flexible preferred equity and subordinated debt capital. The funds come from a recent $12 million investment made by Westbury Partners in the Advance Convergence Group.
The funds provided by Westbury Partners will support the short and long-term growth objectives of the Company. In the short-term, IPVideo’s management will focus on enhancing marketing and communication programs to educate customers about its industry-changing products and services. Over the next twelve months, the Company expects strong growth and will significantly increase the size of its work force by hiring more than 30 individuals to fill key marketing, sales, HR, product development and research positions. The Company will expand its marketing efforts and footprint both nationally and internationally. Plans also include the building of four more of its high-tech Mobile Command Centers and the opening of a state-of-the-art 24 x 7 video surveillanceFusionCenterwhich it will make available to dealers and customers worldwide.
Over the past 15 years, IPVideo Corporation has developed and deployed some of the most sophisticated video and security monitoring systems in the world for schools, government facilities, energy providers, health care facilities and corporations. The Company, under the leadership of its founder and president David Antar, has created unique software and security fusion center technology that easily integrates information from disparate systems including video, access control, fire alarm, burglar alarm, building management systems and GPS/AIS tracking into one centralized convergence manager. The Company’s industry leading C3 Fusion Software suite is capable of managing and rapidly processing vast amounts of critical data all through a user-friendly interface allowing for more efficient monitoring and more rapid response to critical incidents. IPVideo’s systems and software enhances a client’s situational awareness and ability to react quickly with the appropriate level of response.
IPVideo Corporation’s Mobile Command Center (MCC) offers a state-of-the art mobile security solution that incorporates many industry leading technology innovations that the Company has developed and integrated for schools, government facilities, utilities, ports and commercial customers. The MCC provides a mobile showcase for the most advanced high-tech security available today and can be customized for purchase or Company owned vehicles can be rented for special events or other activities. The MCC will be featured at the ISC West International Security Conference and Exposition taking place at the Sands Expo & Convention Center inLas VegasNevadafrom April 10 to 12, 2013.
“The security industry is at a critical juncture. The overwhelming amount of security related data from cameras, access control, intrusion systems and sensors has made it nearly impossible to make informed actionable decisions withoutFusionCentertechnology which presents everything in a Common Operating Picture (COP). Our robust, best in class proven products, are truly a game changer in our fast paced world. Now is the right time for expansion as the demand for our advanced security systems for schools, government buildings, health care facilities and critical infrastructure is experiencing record-breaking growth. The funds provided by Westbury Partners will allow us to accelerate our growth and bring our fusion center, video management and convergence technology to more customers across the nation and around the globe,” said David Antar, President of IPVideo Corporation.
“David and his team have done an incredible job of building IPVideo Corporation into a leading provider of PSIM/Fusion technology products and services. Our shared vision is to make the Company’s convergent solutions available to a larger segment of a newly emerging and rapidly growing market,” said Richard Sicoli, one of Westbury’s senior partners and newest member of the Company’s Board of Directors.
