Acquisition agreement for two brands with creation of European commercial operations
Internet connected camera brand Arlo Technologies and security provider Verisure Sàrl have closed a partnership’s agreements for a ‘first of its kind’ market strategy.
This is said to be the first European multi-channel go-to-market strategy for consumer security and surveillance services, by adding Arlo’s retail and e-commerce channels to Verisure’s existing direct sales channels.
The transaction - which closed on December 30, 2019 - involves the acquisition by Verisure of Arlo’s European commercial operations, which will enable Verisure to accelerate adoption of security and surveillance services across Europe.
It also includes a supply partnership for Arlo cameras with intelligent cloud services. As part of the transaction Verisure now assumes full ownership of Arlo’s European commercial operations, including sales, marketing and customer care.
Arlo users will continue to enjoy the same user experience through the Arlo app and services, such as Arlo Smart.
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