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Vidient Systems Secures $7.8 Million in Additional Financing
Industry Pioneer Sergio Magistri, Trident Capital and Blueprint Ventures Invest in Vidient's Video Threat and Intrusion Detection Solutions
SANTA CLARA, Calif. ─ August 25, 2008 ─ Vidient® Systems, Inc., a leading developer of video-based threat and intrusion detection systems, today announced it has raised an additional $7.8 million in private investment.
The funds will be used primarily to support the company's expansion efforts into emerging high-growth markets. The new funding will also enable Vidient to continue enhancing its flagship SmartCatch® intelligent video software. Blueprint Ventures, Trident Capital and Dr. Sergio Magistri participated in this round of funding.
Magistri, one of the high-tech security industry's most influential innovators and visionaries, served as president and CEO of InVision Technologies from 1992 until it was acquired by General Electric in 2004 for approximately $900 million net. InVision specialized in explosive detection systems for the aviation industry. Under Magistri's guidance, InVision rose from obscurity to leadership of the multi-billion dollar international aviation security market.
Magistri says today's rising demand for better perimeter security that uses intelligent video for detection and threat analysis is reminiscent of the aviation market's urgent need for accurate explosive detectionsystems that drove InVision's rapid rise a decade ago.
"Protection of critical infrastructure will be the next big wave in the security market, and Vidient is wellpositionedto ride that wave to market leadership," Magistri said. "Most of today's perimeter detectionsystems still rely on 20-year-old technology. Vidient's software takes perimeter security well beyond thelimitations of traditional sensors. It's far less expensive, but at the same time delivers far greater ability todetect security threats. Their future is bright and I wanted to be a bigger part of it."
"Our customers are telling us that video analysis is the most cost-effective way to comply with tough newfederal requirements for protecting critical infrastructures," added Frank Pao, president and CEO ofVidient Systems. "The additional capital will enable Vidient to accelerate the transformation of theperimeter intrusion detection market."
Vidient's SmartCatch software at a glance
Vidient's SmartCatch video-based threat and intrusion detection systems offer greater power at muchlower cost than traditional sensors. Rather than requiring an additional, parallel infrastructure of vibrationdetectors and other sensors, SmartCatch analyzes data from a facility's existing surveillance cameras inreal-time. Because SmartCatch leverages the existing infrastructure, it can cut intrusion detection costs toless than half that of older perimeter security technologies.
SmartCatch also delivers significantly better security than traditional sensors. It constantly monitors videofeeds and alerts guards to any abnormal conditions that might signal potential threats. Because CCTVcameras can monitor areas outside the perimeter, SmartCatch detects suspicious actions before they canbecome security breaches. The system can key on loitering individuals, suspicious parked vehicles andunattended packages. SmartCatch also automatically presents guards with the data they need to decideon their response. By detecting threats earlier and accelerating assessments, SmartCatch enablessecure facilities to significantly reduce their incident response times.
"Vidient's technology is the future of perimeter security," said Peter Meekin of Trident Capital, speaking ofhis company's interest in Vidient. "The company's technical breakthroughs offer a compelling solution forsecurity professionals looking for a better way to protect their vital facilities."
About Vidient Systems, Inc.
Since its founding in 2003, Vidient has established a leadership position in the video analysis market,particularly for security and safety applications. Vidient's SmartCatch family of products is in use aroundthe world at major airports, military bases, corporate campuses and critical infrastructure sites. Theproducts are available worldwide directly from Vidient and through a select network of systemsintegrators. For more information, visit www.vidient.com.
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© 2008 Vidient Systems, Inc. All rights reserved. Vidient and SmartCatch are registered trademarks of Vidient Inc.