Oncam Global completes acquisition of Grandeye
Security solutions provider Oncam Global announced it has taken full ownership of Grandeye. The combined company will now be known as Oncam Grandeye.
Oncam Global has acquired the remaining 51 per cent of shares from Creative Technology, to take full control of the imaging technology specialist and to respond to the 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, executive chairman of Oncam Global Group, said, “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.
“With the global video surveillance market predicted to grow by more than 12 percent in 2012, it is vital that we are positioned effectively to continue our leadership in 360 degree technology and exploit new growth opportunities across the market place.”
Jawad also said 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 said.
“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.”