NETGEAR Completes Acquisition of Placemeter, an Industry Leader in Computer Vision Analytics
SAN JOSE, Calif., Dec. 21, 2016 (GLOBE NEWSWIRE) -- NETGEAR, Inc. (NASDAQ:NTGR), a global networking company that delivers innovative products to consumers, businesses and service providers, today announced that it has acquired Placemeter, Inc., an industry leader in computer vision analytics. Placemeter's world-class engineering talent will be integrated into NETGEAR's Arlo Smart Home Security team, and their proprietary computer vision algorithms will be used to build leading video analytics solutions for the Arlo platform.
"Placemeter brings to NETGEAR commercially-proven, computer vision analytics that will add immense value to the Arlo platform," said Patrick Lo, Chairman and Chief Executive Officer of NETGEAR. "As the leading player in the IP camera market, we are dedicated to providing a best-in-class solution and experience to our Arlo customers, and believe that Placemeter's engineering talent and assets will be instrumental in helping us achieve this goal."
Alexandre Winter, founder and chief executive officer of Placemeter, said, "Since 2012, we at Placemeter have passionately created, built, fine-tuned, optimized and packaged our computer vision technology to transform tens of millions of hours of video into meaningful data that makes the physical world safer, smarter and more efficient. From the beginning, our goal was to deliver our solution to as many homes, as many companies, and as many cities as possible. Today, we are thrilled to announce that we are taking a fast track towards this goal by becoming a part of NETGEAR Arlo, the worldwide market leader in smart home cameras."
With the completion of the acquisition, Placemeter's engineering team will be integrated into NETGEAR's Arlo Smart Home Security business under Pat Collins, Senior Vice President of Smart Home Products.
NETGEAR (NASDAQ:NTGR) is a global networking company that delivers innovative products to consumers, businesses and service providers. The Company's products are built on a variety of proven technologies such as wireless (WiFi and LTE), Ethernet and powerline, with a focus on reliability and ease-of-use. The product line consists of wired and wireless devices that enable networking, broadband access and network connectivity. These products are available in multiple configurations to address the needs of the end-users in each geographic region in which the Company's products are sold. NETGEAR products are sold in approximately 28,000 retail locations around the globe, and through approximately 27,000 value-added resellers, as well as multiple major cable,
mobile and wireline service providers around the world. The company's headquarters are in San Jose, Calif., with additional offices in approximately 25 countries. More information is available from the NETGEAR investor page or by calling (408) 907-8000. Connect with NETGEAR on Twitter, Facebook and our blog.
©2016 NETGEAR, Inc. NETGEAR, the NETGEAR logo, and Arlo are trademarks and/or registered trademarks of NETGEAR, Inc. and/or its affiliates in the United States
and/or other countries. Other brand and product names are for identification purposes only and may be trademarks or registered trademarks of their respective holder(s). The information contained herein is subject to change without notice. NETGEAR shall not be liable for technical or editorial errors or omissions contained herein. All rights reserved.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for NETGEAR, Inc.: This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning
NETGEAR's business and the expected performance characteristics, specifications, reliability, market acceptance, market growth, specific uses, user feedback and market position of NETGEAR's products and technology are forward-looking statements within the meaning of the Safe Harbor. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including, without limitation, the following: the actual price, performance and ease-of-use of NETGEAR's products may not meet the price, performance and ease-of-use requirements of customers; product performance may be adversely affected by real world operating conditions; failure of products may under
certain circumstances cause permanent loss of end user data; new viruses or Internet threats may develop that challenge the effectiveness of security features in NETGEAR's products; the ability of NETGEAR to market and sell its products and technology; the impact and pricing of competing products; and the introduction of alternative technological solutions. Further information on potential risk factors that could affect NETGEAR and its business are detailed in the Company's periodic filings with the Securities and Exchange Commission. NETGEAR undertakes no obligation to release publicly any revisions to any
forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
U.S. Media Contact: Nathan Papadopulos, (408) 890-3889, NPapadopulos@netgear.com
Investor Relations Contact: Christopher Genualdi, (408) 890-3520, netgearIR@netgear.com
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