Battery Ventures Announces Sale of Physical-Security Technology Firm Qognify to Hexagon AB
Battery Ventures, a global, technology-focused investment firm, today announced the sale of its portfolio company Qognify, a provider of physical-security and incident-management software, to Hexagon AB.
Terms of the transaction were not disclosed, and it remains subject to customary regulatory review.
Qognify, based in Pearl River, NY, helps thousands of companies and organizations around the world manage physical security and business operations through video surveillance technology and incident-response management software, among other technologies. Customers include those in the manufacturing, transportation, retail, education, finance, logistics, corrections and government sectors. The company operates major development hubs in Germany and Israel, in addition to the U.S., and operates sales and support offices around the globe.
“Qognify is a great example of our buyout strategy in action — identifying best-in-class technologies and then driving growth through product leadership and R&D as well as strategic acquisitions,” said Battery General Partner Jesse Feldman. “We are proud this industry-leadership was recognized and valued by Hexagon, as it acquires Qognify.”
Battery formed Qognify in 2015 through a spinout of NICE System’s physical security business unit. In 2018, Qognify acquired On-Net Surveillance Systems Inc. with its brands OnSSI and SeeTec, forming a leading global player in the physical security market.
“Battery has been a tremendous partner to Qognify as we built a comprehensive platform in the mission-critical security and incident management sector,” said Steve Shine, CEO, Qognify. “We look forward to continuing our heritage of product leadership, while further integrating our solutions across Hexagon’s public safety suite to better serve our existing customers and new Hexagon customers alike.”
Raymond James acted as financial advisor to the company.
About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, consumer tech, healthcare IT and industrial technology and life-science tools. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park, New York, London and Tel Aviv. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
Qognify helps safeguard your world, focusing on the outcomes of customers, who place a premium on physical security. Providing solutions to mitigate risks, increase security and optimize operations, Qognify serves thousands of customers all over the world as a trusted advisor. The comprehensive portfolio of Qognify contains physical security and incident management solutions, which create add value for many sectors including manufacturing companies, transportation authorities, retail chains, banks and other financial institutions, ports and seaports, logistics service providers, schools and universities, correctional facilities, critical infrastructures, and cities. Headquartered in Pearl River, New York, Qognify operates major development hubs in Germany and Israel as well as sales and support offices around the globe.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NY-MORGAN-STANLEY8.2.2023 16:24:41 CET | Press release
Morgan Stanley Hosts First Global Demo Day for Startups in Inclusive Ventures Lab
DAWEX8.2.2023 16:01:43 CET | Press release
Dawex, Fraunhofer ISST and TNO Agree to co-Propose a Pre-Standardization Program on Trusted Data Transaction
DEWA8.2.2023 15:55:39 CET | Press release
DEWA is the first utility in the world to enrich its services with ChatGPT technology
CA-VIZ.AI8.2.2023 15:16:51 CET | Press release
Large Real-World, Multi-Center Study Demonstrates Viz.ai Platform Saves Critical Minutes in Stroke Care
OAG8.2.2023 15:16:41 CET | Press release
OAG Launches Flight Status Alerts, An All-New View of Immediate Flight Changes
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom