Merger set to drive growth across North American video market.
IDIS is pleased to announce that its acquisition of Costar Technologies, a U.S. provider of electronic security products, has been completed.
The union makes good sense; IDIS and Costar have enjoyed a long-term existing ODM relationship – approximately 60% of Costar Video products are already made by IDIS. The acquisition builds on the strong ties between the two companies and will catalyze strategic synergies including a deeper focus on potential growth sectors.
Costar has a well-established sales channel of over one hundred distributors and 1,000 systems integrators across the U.S. that will benefit from IDIS’ proven, NDAA-compliant and 100% made Korean technology.
The acquisition will result in mutual benefits for both IDIS and Costar. As the management and sales teams merge, customers will be able to buy Costar and IDIS solutions from either company, providing customers with comprehensive coast-to-coast U.S. and Canadian coverage.
With demand continuing to increase for end-to-end solutions, Costar’s sales channel will benefit from IDIS’ proven one-stop-shop model, offering everything systems integrators need to rapidly design and implement a complete video surveillance and deep learning analytics solution. In addition, IDIS technology offers integrators profit protection benefits in terms of a single point of contact for pre-sales, sales, and technical support with the assurance of seamless connectivity, ensuring projects are delivered on time and budget.
Costar has many end-user customers that need to upgrade to NDAA-compliant technology without any links to untrustworthy governments or supply chains. And that’s exactly what IDIS can offer for businesses large and small, with the assurance of high-quality, South Korean manufacturing in IDIS’ Smart Factory.
Scott Switzer, Chief Executive Officer of Costar Technologies said, “The Costar and IDIS teams have over 20 years of partnership experience, and we are excited to be merging with a vibrant video tech company." He added, "With its rapid growth, expanding product line, and reputation for exceptional quality, IDIS combined with Costar’s sales network is poised to make significant inroads in the U.S. market.”
IDIS offers end-users the advantage of rapid plug-and-play installation, low maintenance burdens, seamless connectivity, forward and backward compatibility, ease-of-use, and no ongoing software license fees, which combine to deliver an industry-leading low total cost of ownership (TCO). In addition, Costar’s Arecont Vision is a pioneer in the multi-imager and ruggedized camera markets and its line-up will both complement and extend IDIS’ range and enable expansion not only geographically, but also support IDIS’ penetration into new vertical markets.
Joon Jun, President of the Global Business Division and Senior Executive Vice President of IDIS said, “IDIS’ growth strategy has always been focused on building long-term relationships with local partners and customers." He added, "Leveraging Costar’s established distribution networks and sales channels in North America is reflective of that strategy. We are very proud to be uniting with Costar and making our entire IDIS range of advanced technologies and resources available to our combined customer base.”