ACRE in September acquired Security Identification Systems Corporation (SISCO). This was their second acquisition of a company in the visitor management space, after TDS. This article looks at the rationale behind the deal and how it can benefit both.
ACRE in September
acquired Security Identification Systems Corporation (SISCO). This was their second acquisition of a company in the visitor management space, after
TDS. This article looks at the rationale behind the deal and how it can benefit both.
The string of merger and acquisition deals continues for ACRE, which has become an increasingly influential company in security. Already with several brands under its wing, including Vanderbilt Industries, RS2 Technologies, ComNet and Open Options, ACRE acquired visitor management company Time Data Security (TDS) in 2021 and
Feenics and Matrix Systems later that year. Then, in September 2022, it purchased SISCO, another visitor management solutions provider.
Rationale behind deal
Don Joos, CEO of ACRE, discussed the rationale behind the deal. “ACRE provides state-of-the-art solutions for our customers across the globe. ACRE has a comprehensive portfolio of solutions consisting of access control, video management, and intrusion detection that can either be in the cloud, on-premise, or hybrid. This strategic acquisition demonstrates ACRE's ongoing investment in established and entrusted technologies, beyond access control, that drive organizations to better manage risk and ensure security,” Joos said. “The SISCO addition to our portfolio consists of best-in-class visitor management solutions that are utilized for credentialing, compliance, and tracking.”
Founded in 1994 and located in West Palm Beach, Florida, SISCO is a leading provider of visitor management solutions. Initially, SISCO systems were designed for the cruise lines to track passengers and crew on and off a ship. Having achieved success in that regard, SISCO then applied its know-how gained in the cruise line industry and developed visitor management solutions for credentialing the general public.
According to Joos, SISCO has its own unique strengths and complements well solutions from TDS, which ACRE acquired previously.
“We acquired TDS in 2021, so SISCO is our second acquisition in the visitor space and a perfect complement to our existing portfolio. While TDS’ workplace solutions have a strong footprint in the higher end of the enterprise market, SISCO’s solutions will help to round out our offerings for the rest of the SMB market,” he said. “SISCO provides world-class security products and services using top-of-the-line technologies and integrated security solutions ideal for changing business environments. Not only is their team filled with creative, knowledgeable, and experienced security leaders, their SaaS and on-premise solutions excel in critical verticals like airports, healthcare, education, and cruise ships. They have been a leader in the visitor management segment and have demonstrated their commitment to creating innovative solutions since their inception.”
Strength in cloud
SISCO’s strength in
cloud is another draw for ACRE, which acquired Feenics in 2021 to manage developing customer needs in the rapidly evolving cloud markets. Adding SISCO to ACRE’s portfolio can further give the latter to boost. “SISCO’s offerings excel in the cloud, most notably the enterprise healthcare visitor management solution. Along with the enterprise offering, SISCO can offer a multi-tenant solution which allows for a lower cost of entry into a hosted visitor management solution. This acquisition significantly strengthens our portfolio and will enhance our reach and capability to react to the ever-increasing demand for stronger oversight of who is within an establishment at any provided time. It will also significantly expand our innovation capacities,” Joos said.
Anthony Zagami, CEO of SISCO, meanwhile expressed his optimism for the future prospects of both companies. “Through the process, we saw clear opportunities for growth as both companies place a similar focus on long-term client relationships,” Zagami said in an earlier press release by ACRE. “ACRE is transforming the security industry, and we are pleased to have the opportunity to embrace new possibilities that will enhance our ability to protect infrastructure, people, and assets.”
As for the future, ACRE will continue to look for new opportunities in the security industry as part of the commitment it made to Triton, which acquired ACRE back in 2021. “Since its beginning, ACRE’s overarching purpose has been to bring the industry's most promising technology into the broader portfolio. ACRE, in conjunction with our PE partner Triton, continues to drive organic growth while searching for opportunities to consolidate the industry, create global scale and grow its solution portfolio with innovative, leading technologies,” Joos said.