Oncam Global has acquired the remaining 51% of shares from Creative Technology to take full control of the imaging technology specialist and to respond to the growing demand for its 360-degree security solutions.
Grandeye will now be fully integrated as Oncam Global’s technology and engineering arm, providing a suite of 360-degree technology for security and liability protection applications.
Ahmed Jawad, the executive chairman of Oncam Global Group, told Info4Security that the deal will allow the business to take control of the 360-degree development market across the security and commercial sectors.
“Grandeye has been a pioneer in the development and use of 360-degree imaging across a range of security solutions and, to this day, remains synonymous with 360-degree technology,” opined Jawad.
“With the global video surveillance market predicted to grow by more than 12% in 2012, it’s vital that we’re positioned effectively to continue our leadership in 360-degree technology and exploit new growth opportunities across the marketplace.”
He added: “Taking full control of Grandeye will enable us to do this, ensuring that we are geared towards delivering the next generation of 360 technology, as well as being positioned to take forward exciting technology deployment partnerships.”
Heavy investment in sustained R&D
Jawad also announced that Oncam Global will invest heavily in a sustained Research and Development programme.
“This investment is critical for us to remain at the forefront of the industry,” he explained.
“Grandeye will benefit from increased investment in R&D and it will also be our objective to attract the best people into our business, ensuring that we maintain our market position and continue to lead technology development and innovation in the 360 degree technology market.”
Grandeye has developed ‘smart’ camera technology that greatly reduces system complexity and cost for the end user and holds “a very powerful patent portfolio” within these technologies.
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