Hexagon company, Tacticaware, developed an
exclusive version of its Accur8vision security solution with Ouster
for broad adoption across public and private infrastructure
Ouster, Inc. (NYSE: OUST) (“Ouster” or “the Company”) and
Tacticaware, a Hexagon (Nasdaq Stockholm: HEXA B) company that
manufactures and produces the volumetric security system
Accur8vision, today announced the launch of their joint security
solution: Ouster x Accur8vision. The solution combines Ouster’s 3D
digital lidar technology with Hexagon’s industry-leading security
software to target the multibillion dollar physical security
market.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220323005384/en/
Ouster x Accur8vision security solution
(Graphic: Business Wire)
The Ouster x Accur8vision solution is capable of monitoring and
protecting a wide-variety of environments, including critical
infrastructure such as airports, commercial buildings, and
residential properties. Incumbent technologies, such as cameras and
radar, are not sufficient in complex environments, such as a
crowded setting, or where visibility is reduced. Ouster x
Accur8vision is designed to enhance existing security systems by
providing an added layer of perception that can be used to
proactively detect potential threats.
The Ouster x Accur8vision security solution helps
operators:
- Reduce the number of false alarms with more accurate,
volume-based detection and intruder tracking
- Monitor any custom-sized area with a single detection view
across multiple lidar sensors
- Set advanced security controls with unlimited 3D zones and
custom priority alarms per zone
- Integrate with existing pan, zoom, and tilt (PTZ) cameras for
efficient tracking and recording
- Easily set up a security system without prior lidar
knowledge
“Our solution combines Ouster’s high-resolution, reliable
digital lidar technology with Hexagon’s industry-leading security
expertise,” said Martin Vojtek, Chief Executive Officer of
Tacticaware. “Together, we are introducing a revolutionary security
product that is designed to address the single biggest and most
expensive pain point for security operators today: false alarms.
Our goal is to help customers improve the accuracy of their
existing security systems while reducing operational costs.”
The global physical security market is projected to reach an
estimated $153 billion by 2023, in part driven by a rise in
intrusions, terrorism, and other threats1. Within private
organizations, there is a growing interest in leveraging physical
security data in other parts of the business, such as to understand
occupancy management and people counting. While demand for security
solutions has been increasing, government regulations around data
privacy, such as the U.S. Facial Recognition and Biometric
Technology Moratorium Act, have limited the use of biometric
surveillance, such as camera-based security systems. Lidar-based
security solutions are uniquely positioned to fill the gap.
“A high-resolution lidar security system is capable of
transforming the security market by providing the accurate and
comprehensive detection required without infringing on citizens’
privacy,” said Itai Dadon, Vice President of Smart Infrastructure
at Ouster. “Performance and reliability are critical for the
security market. The versatility of our solution makes it an
optimal choice for any security operator, from government to
enterprise campuses or even private homes. We expect this
collaboration to jumpstart Ouster’s entry into the security market,
further diversifying its revenue streams and accelerating the
adoption of digital lidar.”
About Hexagon
Hexagon is a global leader in digital reality solutions that
combine sensor, software and autonomous technologies. Hexagon is
putting data to work to boost efficiency, productivity, quality and
safety across industrial, manufacturing, infrastructure, public
sector, and mobility applications. Its technologies are shaping
production and people related ecosystems to become increasingly
connected and autonomous – ensuring a scalable, sustainable future.
Tacticaware, a subsidiary of Hexagon, is the manufacturer and
producer of the world-known volumetric security system,
Accur8vision. Hexagon (Nasdaq Stockholm: HEXA B) has approximately
22,000 employees in 50 countries and net sales of approximately
4.3bn EUR. Learn more at hexagon.com and follow @HexagonAB.
About Ouster
Ouster (NYSE: OUST) is building a safer and more sustainable
future through its high-resolution digital lidar sensors for the
automotive, industrial, smart infrastructure, and robotics
industries. Ouster’s sensors offer an excellent combination of
price and performance with the flexibility to span hundreds of
use-cases and enable revolutionary autonomy across industries. With
a global team and high-volume manufacturing, Ouster supports
approximately 600 customers in over 50 countries. Ouster is
headquartered in San Francisco, CA with offices in the Americas,
Europe, Asia-Pacific, and the Middle East. For more information,
visit www.ouster.com, or connect with us on Twitter or
LinkedIn.
Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding Ouster’s financial outlook, market
positioning, and anticipated results. Forward-looking statements
give Ouster’s current expectations and projections relating to its
financial condition, competitive position, results of operations,
plans, objectives, future performance and growth, potential revenue
opportunity, market penetration, the success and adoption of the
Ouster x Accur8vision, its ability to reduce the number of false
alarms, its undefeated accuracy, and the ability of this joint
security solution to meeting continually evolving legal standards
in various jurisdictions. You can identify forward-looking
statements by the fact that they do not relate strictly to
historical or current facts. These statements may include words
such as “anticipate”, “estimate”, “expect”, “project”, “plan”,
“intend”, “believe”, “may”, “will”, “should”, “can have”, “likely”
and other words and terms of similar meaning in connection with any
discussion of the timing or nature of future operating or financial
performance or other events. All forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from those that we expected, including: Ouster’s
limited operating history and history of losses; the negotiating
power and product standards of its customers; fluctuations in its
operating results; cancellation or postponement of contracts or
unsuccessful implementations; the adoption of its products and the
growth of the lidar market generally; its ability to grow its sales
and marketing organization; substantial research and development
costs needed to develop and commercialize new products; the
competitive environment in which it operates; selection of our
products for inclusion in target markets; its future capital needs;
its ability to use tax attributes; its dependence on key third
party suppliers, in particular Benchmark Electronics, Inc., and
manufacturers; ability to maintain inventory and the risk of
inventory write-downs; inaccurate forecasts of market growth; its
ability to manage growth; the creditworthiness of our customers;
risks related to acquisitions; risks related to international
operations; risks of product delivery problems or defects; costs
associated with product warranties; its ability to keep its
competitive edge and maintain competitive average selling prices or
high sales volumes or reduce product costs; conditions in its
customers industries; its ability to recruit and retain key
personnel; its use of professional employer organizations; its
ability to timely and adequately protect and enforce its
intellectual property rights; its ability to effectively respond to
evolving regulations and standards; risks related to operating as a
public company; risks related to the COVID-19 pandemic; and other
important factors discussed in the Company’s final prospectus and
definitive proxy statement, dated February 12, 2021, filed with the
Securities and Exchange Commission (the “SEC”), as updated by the
factors disclosed in the section titled “Risk Factors” in its final
prospectus filed with the SEC and dated August 19, 2021 and in Form
10-K filed with the SEC on February 28, 2022. Any such
forward-looking statements represent management’s estimates and
beliefs as of the date of this press release. While Ouster may
elect to update such forward-looking statements at some point in
the future, other than as required by law, it disclaims any
obligation to do so, even if subsequent events cause its views to
change.
1 Allied Market Research, Physical Security Market
Outlook-2023
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220323005384/en/
Ouster:
For Investors Sarah Ewing investors@ouster.io
For Media Heather Shapiro press@ouster.io
Hexagon AB:
For Investors Maria Luthstr�m +46 8 601 26 27
ir@hexagon.com
For Media Kristin Christensen +1 404 554 0972
media@hexagon.com
Ouster (NYSE:OUST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ouster (NYSE:OUST)
Historical Stock Chart
From Apr 2023 to Apr 2024