STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Proven analytics technology to optimize real-time customer behavior strengthens Axis Communications (STO:AXIS) offering within store optimization on a fast-growing market.
Axis Communications, the global leader in network video, today announced the acquisition of Cognimatics, a leading company of store optimization solutions targeting the retail sector. Cognimatics’ technology is for example used for people counting, queue measurement and occupancy estimation. The addition of Cognimatics’ knowledge and technology strengthens Axis’ solution offering in the fast-growing retail market segment.
“Cognimatics’ products are well-known with a successful track record in the retail sector, and complement our solutions in that market. Their commitment to developing innovative and easy-to-use products is consistent with Axis’ approach to provide the highest value solution for a range of customer needs. We are excited to be able to offer our partners and end users solutions that act as a natural complement to their existing Axis solutions,” says Ray Mauritsson, CEO at Axis Communications.
Founded in 2003, Cognimatics is a privately owned Swedish company, headquartered in Lund, with 12 employees. The company offers a suite of video analytics applications that can be used to provide retailers with insightful behavioral intelligence that helps optimize their operations, improve customer experience, and enhance security and safety. Axis Communications and Cognimatics have cooperated for several years on both engineering and sales to provide integrated solutions to a number of mutual customers. Cognimatics serves customers in more than 70 countries via a global distributor and system integrator network.
About Axis Communications
Axis offers intelligent security solutions that enable a smarter, safer world. As the market leader in network video, Axis is driving the industry by continually launching innovative network products based on an open platform - delivering high value to customers through a global partner network. Axis has long-term relationships with partners and provides them with knowledge and ground-breaking network products in existing and new markets. Axis has more than 2,100 dedicated employees in more than 50 countries around the world, supported by a global network of over 80,000 partners. Founded in 1984, Axis is a Sweden based company listed on NASDAQ Stockholm under the ticker AXIS. For more information about Axis, please visit our website www.axis.com.
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