YEHUD, Israel, July 20, 2020 /PRNewswire/ -- Magal Security
Systems, Ltd. (Nasdaq: MAGS), a leading international provider of
comprehensive physical, video and access control security products
and solutions, as well as critical site management, announced a new
turnkey security project for a Mexican VIP residence.
The turn-key project features all the Company's major
proprietary products and platforms. Magal Security's Physical
Security Information Management (PSIM) system, FORTIS 4G Command
and Control will holistically integrate the customer's Perimeter
Intrusion Detection System (PIDS), installed by Magal Mexican
subsidiary. FORTIS 4G's centralized proprietary software completely
integrates the entire security and operational systems, allowing
the security teams to make effective, real-time decisions on
events.
In addition to the FORTIS 4G Command and Control platform, the
customer committed to a long-term service contract for Senstar's
Symphony VMS video management software with video analytics. The
customer selected Symphony, which will replace a prior VMS
software, for its enhanced analytics capabilities and device-vendor
agnostic flexibility. Symphony, with its portfolio of innovative
solutions, reduces overall costs of security operations by
streamlining inputs into one source and providing more effective
surveillance measures. Together, FORTIS 4G and Symphony offer the
customer versatility to implement additional technology into the
residential security system.
Mr. Dror Sharon, Chief Executive
Officer of Magal, said, "We are proud of our Latin American team,
who has expanded its relationship and showcased its professionalism
with this customer since implementing our PIDS solutions in late
2019. The new contracts for Symphony and FORTIS 4G engage Magal in
a long-term commitment to provide critical support as the facility
expands and improves the security standards for its residents.
This VIP residence is an excellent reference for Magal to
leverage in this highly lucrative segment of the Latin American
market and drive future growth."
About Magal Security Systems, LTD.
Magal is a leading international provider of comprehensive
physical, video and access control security products and solutions,
as well as site management. Over the past 45 years, Magal has
delivered its products as well as tailor–made security solutions
and turnkey projects to hundreds of satisfied customers in over 80
countries – under some of the most challenging conditions. Magal
offers comprehensive integrated solutions for critical sites,
managed by Fortis4G – our 4th generation, cutting–edge physical
security information management system (PSIM). The solutions
leverage our broad portfolio of home–grown PIDS (Perimeter
Intrusion Detection Systems), Symphony – our advanced VMS (Video
Management Software) with native IVA (Intelligent Video Analytics)
security solutions.
Forward Looking Statements
This press release contains forward-looking statements, which
are subject to risks and uncertainties. Such statements are based
on assumptions and expectations which may not be realized and are
inherently subject to risks and uncertainties, many of which cannot
be predicted with accuracy and some of which might not even be
anticipated. Future events and actual results, financial and
otherwise, may differ from the results discussed in the
forward-looking statements. A number of these risks and other
factors that might cause differences, some of which could be
material, along with additional discussion of forward-looking
statements, are set forth in the Company's Annual Report on Form
20-F filed with the Securities and Exchange Commission. In
addition, and as mentioned in this press release, there is
uncertainty about the spread of the Coronavirus and the impact it
will have on the Company's operations, the demand for Company's
products, global supply chains and economic activity in
general.
For more information:
Magal Security
Systems Ltd.
Diane Hill, Assistant
to the CEO
+972-3-539-1421
dianeh@magal-s3.com
www.magalsecurity.com
|
IR
Contact:
Brett Maas
Managing
Partner
Hayden IR
+1
646-536-7331
Brett@HaydenIR.com
|
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SOURCE Magal Security Systems Ltd