COPPELL, Texas – Global security manufacturer IDIS has completed its acquisition of electronic security product company Costar Technologies, Inc., according to a joint announcement from both companies.
The companies first announced their plans in March.
IDIS and Costar “have enjoyed a long-term existing ODM relationship,” according to the joint announcement, which notes that approximately 60% of Costar video products are made by IDIS.
The acquisition “builds on the strong ties between the two companies and will catalyze strategic synergies including a deeper focus on potential growth sectors,” the announcement says.
Costar has a sales channel of more than 100 distributors and 1,000 systems integrators across the U.S. that will benefit from IDIS’ NDAA-compliant and 100% Korean technology.
As the management and sales teams for IDIS and Costar merge, customers will be able to buy Costar and IDIS solutions from either company, providing customers with comprehensive coast-to-coast U.S. and Canadian coverage.
“Costar’s sales channel will benefit from IDIS’ proven one-stop-shop model, offering everything systems integrators need to rapidly design and implement a complete video surveillance and deep learning analytics solution,” according to the announcement.
“In addition, IDIS technology offers integrators profit protection benefits in terms of a single point of contact for pre-sales, sales, and technical support with the assurance of seamless connectivity, ensuring projects are delivered on time and budget,” the announcement says.
Why IDIS Acquired Costar Technologies
“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,” says Scott Switzer, chief executive officer for Costar Technologies, Inc., says in the announcement.
“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,” he says.
IDIS offers plug-and-play installation, low maintenance burdens, seamless connectivity, forward and backward compatibility, ease-of-use, and no ongoing software license fees, which combine to deliver an industry-leading low total cost of ownership (TCO).
In addition, Costar’s Arecont Vision is a pioneer in the multi-imager and ruggedized camera markets and its line-up will both complement and extend IDIS’ range and enable expansion not only geographically, but also support IDIS’ penetration into new vertical markets.
“IDIS’ growth strategy has always been focused on building long-term relationships with local partners and customers,” says Joon Jun, president of the global business division and senior executive vice president of IDIS, in the joint announcement.
“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,” he says.
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