Motorola Solutions, an American data communications & telecommunications equipment provider, has reportedly announced the acquisition of VaaS International Holdings, Inc. for $445 million in cash and equity. The acquisition is touted to help enhance Motorola’s set of law enforcement products.
Todd Hodnett, Co-founder of VaaS & President of Digital Recognition Network, was reportedly quoted stating that this acquisition will help VaaS expand its markets and capabilities. The company believes that the commercialization of its applications can be accelerated under the umbrella of Motorola, and VaaS looks forward to working together with the latter to grow and expand its commercial business, Hodnett added further.
Andrew Sinclair, General Manager & Corporate Vice President, Software Enterprise, Motorola Solutions, was reportedly quoted stating that the company will continue to invest in compliance and auditing to ensure that data is safeguarded, and that data access follows the strictest regulatory and audit requirements. As the firm invests in data to protect citizens, drive efficiency in and speed up investigations, it also aims to invest in protecting the rights of citizens, Sinclair added.
Apparently, Sinclair’s supposed assurance may have stemmed from the fact that personal data so collected has often been misused in the past. However, Motorola Solutions, in an official statement, was quoted to state that the company diligently adheres to all the applicable laws enforced with regards to the collection as well as saving of information.
A statement from VaaS claims the company revenue to reach $100 million in 2019 from a combination of commercial & law enforcement businesses. As per sources familiar with the knowledge of the matter, VaaS International Holdings, Inc., comprising two independent holding companies – Digital Recognition Network (DRN) catering to commercial customers and Vigilant Solutions catering to law enforcement users, post the takeover, will continue to function as usual after getting incorporated into the Motorola Solutions.