DALLAS--(BUSINESS WIRE)--ACRE, a global leader providing state-of-the-art security systems, announced today the strategic acquisitions of Feenics and Matrix Systems.
The acquisition of Feenics brings cloud-based access control solutions to ACRE's rapidly growing network of global customers while also expanding its portfolio to support the growing demand for cloud-based security solutions. Matrix enables ACRE to expand the addressable market for the company's technology portfolio, offering customers a broader breadth of reliable, integrated access control and video surveillance technologies designed to meet evolving business and security requirements.
Feenics develops Keep, a cloud-hosted platform that provides extreme scalability, unprecedented flexibility, and advanced security with its ACaaS applications. It integrates native visitor management and a RESTful API that allows simple integration of complementary systems and devices, resulting in a lower total cost of ownership.
"We are extremely excited about joining forces with the ACRE organization," said Sam Shalaby, Founder and CEO, Feenics. "ACRE has positioned itself as the technology leader in the delivery of trusted and reliable global security solutions. We share a common mission of constantly seeking new ways to best support the evolving needs of today's mission-critical security environments."
For more than 40 years, Matrix Systems has been committed to protecting people, property, and assets through the delivery of security solutions and services tailored to the unique needs of its customers. It provides comprehensive access control and security management technologies to well-known organizations, such as Miami International Airport, The Ohio State University, Cleveland Clinic, and General Electric.
“ACRE was an ideal fit for our business because we share a commitment to making sure our customers receive excellent service and support,” said Bruce Rogoff, CEO, Matrix. “Additionally, our clients gain access to an innovative and compelling roadmap that builds on the proven Matrix product line with ACRE’s expertise in security.”
"Our goal is to bring the industry's best technology innovators into our network of brands," said Joe Grillo, CEO, ACRE. "Feenics' cloud architecture and Matrix’s simplified approach to integration have helped both brands build significant loyalty from a wide range of customers in rapidly growing markets, and we look forward to supporting both brand’s continued growth."
Shalaby will remain with Feenics as its CEO, and Matrix management will join the ACRE team.
Imperial Capital served as financial advisor to Feenics. The financial details of the respective transactions were not released.
About ACRE:
ACRE is a global leader in the delivery of integrated technologies and services. Since its formation in 2012, ACRE has played an instrumental role in the development and implementation of security technology initiatives on a global scale. Its Vanderbilt, TDS, Comnet, Open Options, and RS2 brands deliver advanced solutions to thousands of customers around the world. Today, ACRE employs more than 400 employees in more than 25 countries. For more information, visit www.acre-co.com.
About Feenics:
Feenics, headquartered in Ottawa, Canada, is paving the way for the future of physical security with innovative cloud-based access control solutions developed by industry veterans. Feenics makes it possible for organizations to systemically secure buildings, doors and assets with Keep by Feenics, an access control as a service (ACaaS) platform built specifically for and hosted in the public cloud. Feenics works with industry leading video, intrusion and wireless lock manufacturers. Cyber-readiness is critical, and Feenics accomplishes this through TLS 1.2 encryption, penetration testing by Veracode and no default passwords. Visit www.feenics.com.
About Matrix:
Matrix Frontier hardware and software solutions have been protecting some of the world’s most challenging enterprise security installations for more than 40 years. The company is committed to developing, deploying, and servicing open-platform, future-proof software and reliable, sophisticated hardware to keep enterprises secure. Visit www.matrixsys.com.
