By entering this fast-growing market and adding video Surveillance-as-a-Service to its offering, AddSecure expects the acquisition to support the company’s ambitious growth strategy.
AddSecure, a leading European provider of premium IoT solutions with a focus on secure critical communications and data, announced today that it has entered into an agreement to acquire International Security Group GmbH, a leading German innovator in technology-driven video Surveillance-as-a-Service. ISG offers a comprehensive portfolio of mobile video surveillance solutions marketed as Video Guard to customers within industries such as construction, logistics and infrastructure.
With the acquisition, AddSecure enters the attractive video surveillance market, a growth market with vast potential. The mobile video surveillance market in Germany, ISG’s core market, is expected to grow at over 30% p.a. with similar growth rates possible in other European geographies given the markets are relatively nascent.
The joint mission is to enhance the safety and security across industries such as
construction, utilities, transportation and more, with the objective to become a leading European provider of video Surveillance-as-a-Service.
“The acquisition of ISG boosts AddSecure’s reach in the IoT and secure critical communications and data space, and enhances our offering with the addition of advanced video surveillance technology. Entering into this growing market is a logical next step to support our ambitious growth strategy, and fits perfectly with our extensive knowledge of security and safety and our current offering of smart solutions,” said Stefan Albertsson, CEO of AddSecure.
“We are excited to join the AddSecure organization with its expansive growth strategy and pan-European footprint that will open new opportunities for the Video Guard product range,” said Jörn Windler, Managing Director of International Security Group.
Jörn Windler will remain as the Managing Director of the business post-acquisition and will be instrumental in integrating the video surveillance offering into AddSecure.