Video monitoring software provider Immix Software announced last week that it has been sold to private equity firm Norland Capital. Terms of the deal were not disclosed.
"It has been incredible to watch Immix evolve," said Graham Johnson, Chairman of E-Surveillance, the former parent company of Immix. "Norland's reputable security and software credentials, firm culture, and talented professionals will enable Immix to unlock many opportunities for advancement as the business enters its next phase of growth."
Immix’s software enables central stations to provide video-based remote services to customers and is currently leveraged to monitor one million cameras at 100,000 different sites across North America and Europe.
"We have long observed Immix's market prominence from afar and are ecstatic for the opportunity to join Chris (CEO), Craig (CTO) and the entire Immix team," said Mati Szeszkowski, Founder and CEO of Norland Capital. "Immix has established a very strong foothold in video monitoring security software which is in the midst of a decade plus tail-wind, and we see meaningful opportunities ahead for the business and its clients. We are delighted to invest to further grow the business."
Immix has been an industry leader in video monitoring since the technology’s inception and has also been uniquely differentiated as its software acts as a "single pane of glass" that integrates and seamlessly works with all the disparate technologies inside the security operating center as well as with all the external data sources.
"We are extremely excited to announce our partnership with Norland. This is the next step in Immix's evolution. Teaming up with Norland will allow us to further invest and continue to develop our product offering, build the team, and expand internationally, as well as continue to work very closely with current customers and help them grow their business. With the demand for video and event-based monitoring exploding around the globe, we are poised to meet today's rigorous demands for unifying disparate security platforms and devices, while continuing to innovate to satisfy the needs of our customers in the future," said Chris Brown, CEO of Immix Software.
"This is a great outcome for all parties involved," said John Mack, Executive Vice President and Co-Head of Investment Banking at Imperial Capital, which served as the exclusive financial advisor to Immix in the transaction "We see huge potential for the company, and a growth trajectory that can be accelerated with the equity and experience of Norland as its ideal partner."
