DALLAS, March 8, 2021 / PRNewswire / – Stealth Monitoring (“Stealth”) and Eyewitness Surveillance (“Eyewitness”) have introduced their merger, creating the North American chief in technology-driven industrial video surveillance.
Stealth, headquartered at Dallas, Texas, and Eyewitness, primarily based in Hanover, MD, are each main video surveillance corporations centered on the design, set up and supply of proactive distant video surveillance options and associated providers.
The mixture of the 2 actions will generate unprecedented capabilities and attain North America with deep business experience in a number of verticals together with building websites, auto dealerships, buying malls, condo and workplace buildings, distribution yards, scrap metallic services and others companies with exterior belongings or bodily safety guard necessities. The merged firm will construct on a robust legacy of product growth and technological innovation in each corporations with substantial funding plans in customer support, expertise and steady enchancment of operations.
“The merger with Stealth will make us stronger and much more aggressive,” says Rush mccloy, CEO of Eyewitness Surveillance. “The addition of Stealth’s vital assets will enhance our geographic attain, operational capabilities, product line and business experience, enabling us to raised serve our prospects.” RT Arnold, Chairman of Eyewitness, added: “The mixture of the business’s main industrial monitoring corporations will permit the 2 corporations to supply service to prospects in methods beforehand inconceivable.”
The mixture of Stealth and Eyewitness will embody greater than 1,000 staff in 33 workplaces and can present proactive monitoring of almost 50,000 cameras at greater than 3,000 buyer websites throughout North America. StealthLabs, the corporate’s expertise division, may have greater than 50 individuals centered on utilizing the most recent expertise, whether or not in synthetic intelligence, knowledge analytics, pc imaginative and prescient, robotics and extra. superior applied sciences to understand the corporate’s imaginative and prescient: to construct probably the most dependable on this planet. clever monitoring options.
“Collectively, we will make investments extra aggressively in the very best expertise and cutting-edge applied sciences, which permits us to ship improved options that won’t solely assist us higher defend buyer websites, but additionally ship worthwhile enterprise info.” , commented Rob cherun, CEO of Stealth Monitoring. Erik Mikkelsen, President & CRO of Stealth Monitoring added: “We have now been discussing the deserves of a partnership with Eyewitness for years and are extraordinarily excited to formally deliver it to fruition. Their dedication to offering world-class customer support and steady enchancment makes them an important cultural alternative. for us. We could not be happier to welcome Eyewitness staff, prospects and companions to the nice Stealth household. “
The corporate will proceed to be owned by its present traders: Palo Alto / new Yorkprimarily based at Twin Level Capital, Philadelphia cream-based LLR Companions, and Auxo Administration, a Torontofunding fund based by Cherun and Mikkelsen. Raymond James acted as unique monetary advisor to Stealth, advising on the structuring of the merger and the seek for debt financing for the transaction. Debt financing for the operation was offered by funds managed by Ares Administration Company.
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