IntelliVision, a pioneer and a global provider of AI and Video Analytics, has been acquired by Nipun Vision Corporation from Nice North America. IntelliVision will operate as a standalone entity focused on the broader AI market for Security / Safety, Access Control, ADAS/DMS, Intelligent Transportation System (ITS), and Smart Cameras & Smart building markets with a variety of Video & Audio AI and analytics products
SAN JOSE, Calif., Nov. 5, 2024 /PRNewswire-PRWeb/ -- IntelliVision, a pioneer and a global provider of AI and Video Analytics, has been acquired by Nipun Vision Corporation from Nice North America. Under the terms of the agreement between the parties, Nipun Vision Corporation has acquired full ownership of IntelliVision Technologies Corp, including customer accounts and existing contracts. Nipun Vision will let IntelliVision operate as a standalone entity focused on the broader AI market for security, surveillance, and Dashcam ADAS/DMS for Fleets. This allows IntelliVision to provide complete continuity and support for existing products and customers and at the same time redoubling the AI innovation efforts leveraging emerging Gen AI technologies.
"We are very grateful to Nice leadership team for all their support, cooperation, and providing us an opportunity to enhance Nice products with added AI/analytics and at the same time allowing IntelliVision to focus on the larger AI market" said Krishna Khadloya, who takes on as President and CEO of IntelliVision. "With this divestment Nipun and IntelliVision will focus on growing AI market, new Gen AI technologies, and deliver market leading innovative products. IntelliVision past founder and former CEO, Vaidhi Nathan, will also join as investor and chairman to help in the new company vision and its strategic growth. We are excited and looking forward to the new chapter and journey for IntelliVision", Krishna said.
Divesting IntelliVision enables Nice to intensify its focus on delivering cutting-edge home automation and building management solutions. The ongoing partnership between the two parties ensures that Nice can continue to incorporate new and advanced AI technologies into its products, benefiting customers worldwide.
About Nice North America
Nice North America, a subsidiary of Nice, is one of the largest manufacturers of smart residential, commercial, and industrial solutions in the world, with seamless and easy-to-install technology for smart home control, security and automation, perimeter access, protection and control, sunshade solutions, power management, and whole home entertainment. The company is headquartered in Carlsbad, CA, with several R&D and manufacturing centers across the region. For further information, visit www.niceforyou.com.
About Nipun Vision Corporation
Nipun Vision Corporation is a parent and holding company for IntelliVision. Nipun word means "Expert or Skillful" and is derived from old Sanskrit language. Nipun Vision is based in Silicon Valley, California. IntelliVision focuses on Security / Safety, Access Control, ADAS/DMS, Intelligent Transportation System (ITS), and Smart Cameras & Smart building markets with a variety of Video & Audio AI analytics products. IntelliVision AI products are already powering over 15 million cameras and other edge devices worldwide. For more information, please visit www.Intelli-Vision.com.
Press Contacts:
Krishna Khadloya
President and CEO
IntelliVision
Media Contact
Krishna Khadloya, IntelliVision, 1 (408) 754-1690, [email protected], Intelli-Vision.com
SOURCE IntelliVision
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