OnSSI Acquires SeeTec

Video Management Software company On-Net Surveillance Systems, Inc. (OnSSI) today announced that it has signed a definitive agreement to acquire SeeTec AG, a privately held German-based company providing VMS solutions to European markets. 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. The agreement combines the strengths of OnSSI and SeeTec by leveraging OnSSI's industry-leading Ocularis VMS platform with SeeTec's advanced logistics suite of products, delivering an unparalleled solution for end users and channel partners alike.

"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 combination of OnSSI's leading position in many vertical markets and SeeTec's focus on video-based business and logistics add-on modules will create strong VMS solutions across multiple vertical markets.

"Joining forces with OnSSI gives SeeTec customers a strong long-term and global perspective. SeeTec technology will continue to be a driving force in the industry with additional opportunities and resources", says Stephan Rasp, CEO of SeeTec AG. "We look forward to bringing both companies together in this effort."

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.