In a move that continues the technology-forward evolution of the safety and monitoring industry, Becklar announced Tuesday that it acquired Eyeforce with plans to run it as an independent firm under the Becklar’s umbrella of brands.
Eyeforce CEO Daniel Forrest announced the acquisition to dealers Monday. Forrest will remain on as president of the company, and Eyeforce will continue to operate independently under the Eyeforce brand, “with the same leadership, management, culture, and unwavering commitment to quality service and dedication to our dealers,” Forrest says.
Eyeforce’s technology combines video surveillance, AI/machine learning analytics and live audio operator response intervention to protect commercial property, enhance safety, prevent crime, and reduce theft and loss.
The company is a video monitoring partner for many large, high-profile players in different industries, including auto and tractor dealerships, construction and construction supply, storage facilities and logistics centers.
Becklar says combining these services with its enterprise monitoring, personal health and safety and workforce safety solutions “results in the market's broadest and most innovative portfolio of connected safety offerings across North America.” Becklar is the parent company of AvantGuard, Armstrongs and Freeus.
“With this addition, Becklar’s portfolio of connected safety services is unmatched in scope or scale, providing the next level of enhanced security for dealers, partners and customers,” Steve Richards, CEO of Becklar says.
Becklar adds the acquisition of Eyeforce allows dealers to offer expanded video surveillance and remote guarding solutions to their customers, including remote guards that are highly trained in preventative video surveillance; optimized AI technology for any equipment brand, reducing false alarms; remote guard gate entry/exit verification and protection; simplified, and dealer-friendly, camera-agnostic onboarding.
The acquisition, while significant, isn’t completely surprising as remote guarding has been a booming growth area in the security industry, says industry analyst Brad Russell of Interpret Research.
“Boots on the ground are expensive and hard to find, and the technology involved is more reliable and cost effective now,” Russell says. “I’m sure they are recognizing the shift in the enterprise market. And you have the explosion of video analytics, which requires remote guards that understand the technology, and the data that it can serve up. And there are the apps layered on top of the data to help making quick decisions.”
Becklar has been forward thinking, as has its AvantGuard brand that has been trying to expand in patient monitoring, he added.
“The common thread is that it’s a very tech-forward move,” Russell says. “It’s not uncommon in the security space to explore these adjacencies. But the name of the game now is increasing revenue beyond the traditional security market or having a high level of services based on technologies.”
Bill Lynch, managing director for Imperial Capital, says the acquisition is “emblematic of a mega trend within security” for automation and leveraging security infrastructure (guards and systems) for business intelligence, process improvement and loss prevention. Additionally, he notes that labor is tight.
“Remote video services are the ultimate force multiplier, and a way to use onsite humans in more valuable ways while giving customers more real-time data to get more from their security investment and business operations,” Lynch says. “Justin Bailey, Steve Richards and the AvantGuard team have a terrific track record of driving value in that regard.”
In his letter to dealers, Forrest says Eyeforce has “always sought opportunities to help our dealers grow their businesses” and remote guarding represents the future of physical security, with the demand increasing exponentially.
“This move allows for more resources enabling Eyeforce to move quickly and invest in the people, technologies, and processes that will help support and grow your business,” Forrest told dealers. “We wholeheartedly believe this partnership will continue building strength into Eyeforce and every one of our valued dealer partners.”
