Alarm.com to acquire a majority stake in Openeye.

Alarm.com, a US-based technology company that provides cloud-based services for remote control, home automation, and monitoring services, has agreed to acquire a majority stake in Openeye, an innovator of cloud-managed solutions for video security, business intelligence, and loss prevention. Financial terms were not disclosed. With the acquisition, OpenEye will be a subsidiary of Alarm.com. Through combining OpenEye’s commercial market applications with Alarm.com’s business offering, service providers partnered with Alarm.com will have a best-in-class solution to accommodate commercial accounts of any size. “OpenEye has consistently demonstrated that they are the unequivocal leader in the video-surveillance-as-a-service space and we are excited to help the team continue growing their business.OpenEye has a robust customer and partner list and our top priority is to ensure they all continue to experience great service. The addition of OpenEye will enhance the offerings available to Alarm.com partners in the commercial space. With the ongoing transition from traditional on-premise products to VSaaS, we’re creating new value for subscribers and additional RMR opportunities for our partners,” Steve Trundle, Alarm.com President and CEO.