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Alarm.com acquires OpenEye to expand commercial solutions

TYSONS, Va. — Alarm.com has announced a majority-stake acquisition of OpenEye, a provider of cloud-managed video surveillance solutions for the commercial market.

Alarm.com says OpenEye’s cloud architecture efficiently distributes video and event data to maximize control for both onsite command center operators and remote administrators; delivering high-resolution long-term storage, low bandwidth consumption, and centralized cloud management.

OpenEye is currently utilized at over 14,000 business locations in the U.S. and Canada.

“OpenEye has consistently demonstrated that they are the unequivocal leader in the video-surveillance-as-a-service space and we are excited to help the team continue growing their business,” said Steve Trundle, president and CEO of Alarm.com, in a prepared statement. “OpenEye has a robust customer and partner list and our top priority is to ensure they all continue to experience great service. The addition of OpenEye will enhance the offerings available to Alarm.com partners in the commercial space. With the ongoing transition from traditional on-premise products to VSaaS, we’re creating new value for subscribers and additional RMR opportunities for our partners.”

With the acquisition, OpenEye will be a subsidiary of Alarm.com. The company will continue operations under the OpenEye brand and be led by the existing management team. OpenEye Web Services will remain an open cloud platform and the company says it remains committed to expanding its ecosystem of technology partners and integrated devices. Alarm.com intends to further invest in OpenEye’s growth and expand its headquarters presence in Liberty Lake, Wash.

“We’re excited about this next step in our evolution as the leader in cloud-based VSaaS,” said Rick Sheppard, CEO of OpenEye, also in a statement. “Alarm.com is the platform of choice for thousands of service providers that demand innovation and exceptional customer service. Combining their wide array of partner tools and resources with our capabilities will provide our partners with solutions that are second-to-none.”