IDIS announced that its acquisition of Costar Technologies has been completed.
IDIS says it has a long-term ODM relationship with Costar — approximately 60 per cent of Costar Video products are already made by IDIS.
According to IDIS, the acquisition will result in mutual benefits for both IDIS and Costar. As the management and sales teams merge, customers will be able to buy Costar and IDIS solutions from either company, providing customers with coast-to-coast U.S. and Canadian coverage.
“The Costar and IDIS teams have over 20 years of partnership experience, and we are excited to be merging with a vibrant video tech company,” said Scott Switzer, CEO, Costar Technologies, in a statement. “With its rapid growth, expanding product line, and reputation for exceptional quality, IDIS combined with Costar’s sales network is poised to make significant inroads in the U.S. market.”
Costar’s line-up includes electronic security products for the video surveillance market. The company’s portfolio also includes Arecont Vision.
“IDIS’ growth strategy has always been focused on building long-term relationships with local partners and customers,” added Joon Jun, president of the global business division and senior executive vice-president, IDIS. “Leveraging Costar’s established distribution networks and sales channels in North America is reflective of that strategy. We are very proud to be uniting with Costar and making our entire IDIS range of advanced technologies and resources available to our combined customer base.”
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