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videoNEXT Attracts Investment from Longstreet Investors
December 2, 2005 - Vienna, Va.
Longstreet Investors, LLC, a private equity group managed by Longstreet Partners, LLC ("Longstreet"), a private investment banking and consulting services firm focused on regional small to mid-sized enterprises, announced today that it closed an equity investment with videoNEXT Network Solutions, Inc., ("videoNEXT") a leading edge provider of intelligent video technology solutions. Longstreet participated in the financing of videoNEXT along with Newlight Associates, a New York venture capital firm.
No one doubts the importance of video technology in today's global security environment. There is a huge responsibility for advance detection of threats placed on security professionals. The influx of video and sensor data overwhelms the capacity of humans to detect these threats in real-time. Some analysts including J.P. Freeman believe "the answer lies in the utilization of intelligent video software and smart cameras which can automatically provide these warnings and notify enforcement organizations how to respond to their implications."
"videoNEXT is one of the best investment opportunities we've seen in the security space. Their technology is world class, they have several multi-billion dollar global distribution partners, and strong reference accounts in Federal, DoD, and state agencies. They have a growing international base of customers and new products being rolled out in 2006," commented Daniel E. Moore, Managing Partner of Longstreet Partners.
videoNEXT concentrates on four fundamental elements of information management: Capture, Organize, Store and Distribute. videoNEXT provides a Standards-Based approach to interfacing with all security systems whether they are physical or logical; giving the Secure Enterprise never before found ability to cross analyze silos of data to instantly create alarms on anomalies. A 100% browser-based distribution methodology turns any networked, browser into a powerful security command and control center.
Christopher Gettings, CEO of videoNEXT added: "We've seen an enormous increase in demand for our software. We're building a distribution network among world-class partners. This includes integrators and OEM manufacturers who need to add advanced capabilities to their products and solutions. We need to continue to improve our support organization for them, and to develop new products to address customer needs. We're excited to put this capital to work doing that."
The videoNEXT platform provides the highest level of camera and sensor management by incorporating powerful embedded analytics for object detection, tracking and behavioral analysis in front of a dynamic and scalable Linux database. videoNEXT's infinitely scalable rules and policy engine turns inexpensive security sensors, and PC servers and workstations into a powerful force multiplier. The complete and open API encourages the Secure Enterprise to fully integrate 3rd party analytic technologies.
About videoNEXTvideoNEXT manufactures a robust system for integrating video surveillance, access control, and biometrics with the IT infrastructure. videoNEXT simplifies enterprise level security implementation and control using brand-independent hardware and networks. The company targets the security needs of distributed organizations, seamlessly supporting monitoring across the hallway or thousands of miles away. Security is critical to the lives of all Americans and videoNEXT is proud to be at the forefront of developing technology to make the best systems affordable for use everywhere, whether for a single location, or to protect sites all over the world. videoNEXT helps make America safe and secure. Contact videoNEXT on the web at www.videonext.com or at 703-903-0227.
About Longstreet Partners, LLCLongstreet Partners, LLC ("Longstreet") is a private investment banking and consulting services firm focused on regional small to mid-sized enterprises. Founded in 2002, the firm's partners bring over 60 years of experience of investing in, operating, growing, acquiring and divesting businesses. Longstreet provides services to regional enterprises seeking liquidity events in the near and mid term horizons, including companies that require capital injections or other corporate financings. Longstreet is focused upon partnering with talented managers to help them build thriving businesses, which create substantial value as a part of a structured business process and definite liquidity event plan. For more information about Longstreet partners visit www.longstreetpartners.com.
About Newlight AssociatesNewlight Associates is a group of venture capital partnerships that invest equity capital in all stages of information technology companies. Newlight seeks to form long term partnerships with talented management teams that are committed to building world-class technology companies. Founded in 1997, Newlight manages over $100 million in assets from its offices in New York City and Long Island. For more information, visit www.nlventures.com.
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© 2007 Longstreet Partners, LLC
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