Motorola acquires VaaS International Holdings
Motorola Solutions, Inc.has acquired VaaS International Holdings, Inc. (VaaS), a data and image analytics company based in Livermore, California and Fort Worth, Texas. Motorola Solutions paid a purchase price of $445 million in a combination of cash and equity.
VaaS International is structured as a holding company with two wholly-owned subsidiaries, Digital Recognition Network (DRN) and Vigilant Solutions, each individual company focuses strategically on applicable commercial and public-sector markets.
VaaS, a “video analysis as a service” company, is a leading global provider of data and image analytics for vehicle location. The company’s image capture and analysis platform, which includes fixed and mobile license plate reader cameras driven by machine learning and artificial intelligence, provides vehicle location data to public safety and commercial customers. The company’s 2019 revenues are expected to be approximately $100 million.
“Automated license plate recognition is an increasingly powerful tool for law enforcement,” said Greg Brown, chairman and CEO, Motorola Solutions. “With this acquisition, VaaS will expand our command center software portfolio with the largest shareable database of vehicle location information that can help shorten response times and improve the speed and accuracy of investigations.”
VaaS’ platform enables controllable, audited data-sharing across multiple law enforcement agencies. Vehicle location information can help accelerate time to resolution and improve outcomes for public safety agencies, particularly when combined with police records. For example, law enforcement has used VaaS’ solutions to quickly apprehend dangerous suspects and find missing persons.
“Our extensive license plate data and AI technology have opened new commercial applications of our products,” said Todd Hodnett, co-founder of VaaS. “We believe commercialisation of these new applications can be accelerated under the Motorola Solutions brand and reach, and we look forward to working together to grow and diversify our commercial business.”