Vicon and IQinVision Merger Approved
Edgewood, NY: (29th August 2014) Vicon Industries, Inc. (VII: NYSE-MKT) (“Vicon”), a designer and producer of video security and surveillance systems, said today that it has completed the previously announced merger with IQinVision, Inc. (“IQinVision”), a designer and producer of high performance HD/megapixel IP cameras. The merger creates a global market leader of integrated solutions to the video security market.
Today’s announcement follows Vicon shareholder approval at their Annual Meeting held on 28th August 2014. Vicon Chairman and CEO Ken Darby said of the merger, “We are delighted to join forces with IQinVision. The combination of highly regarded brands within the security industry allows us to bring a compelling and complete video solution to our customers.”
The merger is consistent with Vicon’s strategy of providing high quality, proprietary solutions. The vision is to leverage combined operations along with technological synergies. Both Vicon and IQinVision’s product offerings will retain their existing branding, and both companies will continue to sell into and service their existing channels and customers.
“The combination of Vicon and IQinVision will provide our customers with a broader range of IP video solutions that include high-megapixel cameras. The future of the combined company is very exciting” said Bret McGowan, Vicon Sr. VP Sales & Marketing.