Saturday, December, 14, 2019 12:02:08
  • The partnership would be leveraging SimonsVoss’ expertise to extend the cloud-based capabilities of Morphean

  • The deal would allow Morphean to enter the ACaaS market, which is slated to attain a $2.8 billion valuation by 2024.

SimonsVoss Technologies GmbH, (SimonsVoss), a pioneering Allegion group brand, has reportedly signed a new Europe partnership agreement with Swiss video monitoring & surveillance platform company, Morphean SA (Morphean).

Reports cite, the partnership intends to leverage SimonsVoss’ expertise along with its digital-access control system, called SmartIntego, to extend the cloud-based capabilities of Morphean beyond the domain of video surveillance.

According to a report by Business Insider, the deal would facilitate Morphean the capabilities it needs to enter the ACaaS (access control-as-a-service) market, which is slated to reach a $2.8 billion valuation by 2024. The combination of Morphean’s video surveillance capabilities with a cloud-hosted integrated security system would help businesses optimize their processes & operations by giving deeper insights into employee & customer behaviors and the way office spaces are utilized.

The VP of Sales & Marketing, Morphean, Martyn Ryder stated that the company is witnessing significant growth in wireless-lock demands, making the timely partnership agreement with SimonsVoss quite welcome. Ryder further added that the deal would allow the company to extend its present access-control offerings and address increasing consumer & market demands for wireless & wired locking systems both through the cloud-managed access-control solution.

For the record, the advent of smart cities, tightening regulatory environments as well as growing crime rates are among the key factors that make a case for ACaaS and the outsourcing of the access-control functions to ensure accurate key-card maintenance.

Evert te Pas, Sales Manager (International) at SimonsVoss, stated that digital access-control systems boast of a high value in the domain of security technology that is designed for buildings. Evert te Pas further added that the SmartIntego is a cutting-edge access-control solution that is scalable, flexible and considerably easy to install in existing digital & physical infrastructures.

According to reports, the financial details pertaining to the deal have not been unveiled yet.

 

Source Credit:

https://finance.yahoo.com/news/morphean-platform-unlocks-intelligence-cloud-080000823.html

https://markets.businessinsider.com/news/stocks/morphean-platform-unlocks-the-intelligence-in-cloud-based-access-control-1028275950