ACRE, a provider of state-of-the-art security systems, announced the strategic acquisitions of Feenics and Matrix Systems.
The acquisition of Feenics brings cloud-based access control solutions to ACRE’s rapidly growing network of global customers while also expanding its portfolio to support the growing demand for cloud-based security solutions. Matrix enables ACRE to expand the addressable market for the company’s technology portfolio, offering customers a broader breadth of reliable, integrated access control and video surveillance technologies designed to meet evolving business and security requirements.
Feenics develops Keep, a cloud-hosted platform that provides extreme scalability, unprecedented flexibility, and advanced security with its ACaaS applications. It integrates native visitor management and a RESTful API that allows simple integration of complementary systems and devices, resulting in a lower total cost of ownership.
“We are extremely excited about joining forces with the ACRE organization,” said Sam Shalaby, Founder and CEO, Feenics. “ACRE has positioned itself as the technology leader in the delivery of trusted and reliable global security solutions. We share a common mission of constantly seeking new ways to best support the evolving needs of today’s mission-critical security environments.”
For more than 40 years, Matrix Systems has been committed to protecting people, property, and assets through the delivery of security solutions and services tailored to the unique needs of its customers. It provides comprehensive access control and security management technologies to well-known organizations, such as Miami International Airport, The Ohio State University, Cleveland Clinic, and General Electric.
“ACRE was an ideal fit for our business because we share a commitment to making sure our customers receive excellent service and support,” said Bruce Rogoff, CEO, Matrix. “Additionally, our clients gain access to an innovative and compelling roadmap that builds on the proven Matrix product line with ACRE’s expertise in security.”
“Our goal is to bring the industry’s best technology innovators into our network of brands,” said Joe Grillo, CEO, ACRE. “Feenics’ cloud architecture and Matrix’s simplified approach to integration have helped both brands build significant loyalty from a wide range of customers in rapidly growing markets, and we look forward to supporting both brand’s continued growth.”
Shalaby will remain with Feenics as its CEO, and Matrix management will join the ACRE team.
Imperial Capital served as financial advisor to Feenics. The financial details of the respective transactions were not released.