Eagle Eye Networks, a leader in the cloud video surveillance industry, has announced it has acquired Uncanny Vision to expand its research and development capabilities.
The move is part of the expansion plans announced by Eagle Eye Networks back in 2020 after raising $40 million in funding to combine video surveillance with Artificial Intelligence (AI) and cloud computing. The acquisition of Uncanny Vision will provide the company with proprietary technology like deep learning algorithms aimed to improve recognition, identification, and prediction. The addition of these capabilities will be translated to improved performance of its video surveillance solutions, improving value for its users.
The acquisition will see all 60 Uncanny Vision employees join Eagle Eye Network and the expansion of the Bangalore office as the company is confident of its abilities and potential to participate in the reshaping of the industry. Dean Drako, CEO of Eagle Eye Networks, said in this regard:
“One example of Uncanny’s leading technology: Most companies showed 80-90% license plate recognition accuracy when we tested them in less ideal circumstances (such as an outdoor parking entrance). Uncanny’s AI knocked it out of the park with 98% accuracy. Uncanny Vision was one of the first companies to focus on using AI Neural Networks for video surveillance and it shows in the speed and accuracy of what they deliver.”
Uncanny Vision co-founders Ranjith Parakkal and Navaneethan Sundaramoorthy will be joining Eagle Eye Networks in leadership positions, helping the company fulfill its commitment to support Uncanny Vision’s current customers and to build its global infrastructure. Parakkal referred to this appointment by stating:
“We share the Eagle Eye team’s vision to deliver advanced, cyber secure AI cloud video surveillance offerings that transform video surveillance for businesses around the globe.”
Eagle Eye Networks’ acquisition will allow the company to expand its capabilities, helping thousands of businesses remain financially stable by facilitating access to effective and cost-efficient video surveillance services via its subscription-based model.
