Thursday, November 17, 2005
SYS Technologies Acquires cVideo For $1.5M
San Diego-based SYS Technologies said today that it has acquired San Diego-based cVideo, a provider of technology used for digital surveillance and security monitoring. The acquisition is the second this month for SYS, which acquired Logic Innovations on November 10. The company reports that cVideo has an annual run rate of approximately $3.0M. SYS said that it expects the acquisition to close before December 30, 2005. cVideo develops digital video applications for video surveillance, integrated security, and loss prevention solutions. The company's systems are used for central alarm monitoring, point of sale, and homeland security. cVideo received $1.5M in funding in 2001 from Cubic Corporation and private investors.