ACRE, the parent company of Vanderbilt, RS2 Technologies, Open Options, ComNet, and Razberi, announced on Wednesday that it has added two more companies to its portfolio as it has agreed to acquire access control technology providers Feenics and Matrix Systems.
In a statement, ACRE said that Feenics will enable the company to bring cloud-based access control solutions to its global customer base, while the addition of Matrix will help it expand the addressable market for its technology portfolio by offering users a broader range of integrated access control and video surveillance technologies.
"Our goal is to bring the industry's best technology innovators into our network of brands," said Joe Grillo, CEO, ACRE. "Feenics' cloud architecture and Matrix’s simplified approach to integration have helped both brands build significant loyalty from a wide range of customers in rapidly growing markets, and we look forward to supporting both brand’s continued growth."
Based in Ottawa, Canada, Feenics is the developer of Keep, a cloud-hosted access control platform. It integrates native visitor management and a RESTful API that allows simple integration of complementary systems and devices, resulting in a lower total cost of ownership.
"We are extremely excited about joining forces with the ACRE organization," said Sam Shalaby, Founder and CEO, Feenics. "ACRE has positioned itself as the technology leader in the delivery of trusted and reliable global security solutions. We share a common mission of constantly seeking new ways to best support the evolving needs of today's mission-critical security environments."
Headquartered in Miamisburg, Ohio, Matrix Systems provides comprehensive access control and security management technologies to well-known organizations, such as Miami International Airport, The Ohio State University, Cleveland Clinic, and General Electric.
“ACRE was an ideal fit for our business because we share a commitment to making sure our customers receive excellent service and support,” said Bruce Rogoff, CEO, Matrix. “Additionally, our clients gain access to an innovative and compelling roadmap that builds on the proven Matrix product line with ACRE’s expertise in security.”
Shalaby will remain with Feenics as its CEO, and Matrix management will join the ACRE team.
Imperial Capital served as financial advisor to Feenics. The financial details of the respective transactions were not released.
These are the first North American acquisitions for ACRE since the company was acquired by UK-based private equity firm Triton in March.
