On-Net Surveillance Systems, Inc. Announces Acquisition of SeeTec AG

Two Leading VMS Companies Increase Global Presence and Capabilities

Video Management Software Company On-Net Surveillance Systems, Inc., a leading supplier of Video Management Software in the Americas, yesterday announced that it has signed a definitive agreement to acquire the majority of SeeTec AG, Bruchsal. As one of the first providers of network based video management applications, SeeTec provides customers with targeted solutions aligned with customer requirements and industry specific processes.

For Stephan Rasp, CEO of SeeTec, the acquisition opens up new perspectives: “With SeeTec and OnSSI teaming up, an independent player with global impact in the market is created, offering customers open and platform independent solutions based on proven technology and many years of experience in the market. Both companies can develop products and solutions with combined forces for their home and global markets as well as provide more comprehensive services to their partners and customers. For SeeTec customers this step means also, that they can furthermore rely on professional SeeTec VMS products in the future. Vertical solutions for such as those developed by SeeTec in Logistics, Finance and Retail will also play an important role.“

 “This acquisition is important for our growth, diversification and global presence strategies”, said Gadi Piran, OnSSI’s President and CTO. “SeeTec is highly regarded in European markets for its software development, client services and outstanding customer relationships. They will continue to provide these services locally, while working together with OnSSI to expand globally. I could not ask for a better partner than SeeTec to grow and deliver increased value to OnSSI customers.”

The investors, L-Bank since 2009 and then S-Kap Beteiligungen, which have already been supporting SeeTec’s growth, will continue to be invested in the new combined company. As the State Development Bank of Baden-Wuerttemberg, L-Bank specializes in high-growth technology companies through its Euro 100 Million Venture Capital portfolio.

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Kaj Svenningson (Chief Business Development Officer SeeTec), Stephan Rasp (CEO SeeTec), Gadi Piran (President & CTO OnSSI), Yoav Millet (COO OnSSI)