3VR SECURITY, INC. ANNOUNCES STRATEGIC INVESTMENT AND DEVELOPMENT AGREEMENT WITH IN-Q-TEL
November 3, 2005
San Francisco, CA
3VR Security, Inc., (3vr.com) developers of the world's first intelligent video management system, today announced a strategic agreement with In-Q-Tel (inqtel.org), an independent, private, not-for-profit company established by the Central Intelligence Agency (CIA) to develop sophisticated surveillance systems for both commercial and government markets.
3VR's products have gained traction rapidly in the security market, having earned the Security Industry Association's New Product Showcase award for Best New Digital Video Product of 2005, been named a top intelligence video product by JP Freeman & Co., and successfully installed the system for several well-known enterprise customers.
"Our partnership with In-Q-Tel is further validation of 3VR's leadership in the intelligent video space," said Stephen Russell, 3VR's CEO. "We look forward to the tremendous opportunities we have working together in the coming months and years."
"3VR offers an impressive product to an industry that will see amazing growth in the coming years," said Gilman Louie, President & CEO of In-Q-Tel. "We invested in 3VR's technology because of its innovation in the field of capturing and managing surveillance data - actually turning thousands of hours of video into a valuable digital asset with useful alerts and customizable searches."
Financial details about the agreement were not disclosed.
About In-Q-Tel
In-Q-Tel is a private, independent, not-for-profit venture group established by the CIA. Launched in 1999, In-Q-Tel's mission is to identify, acquire, and deploy cutting-edge technologies that serve United States national security interests. Working from an evolving strategic blueprint that defines the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, established companies, researchers and venture capitalists to deliver technologies that pay out in superior intelligence capabilities for the larger Intelligence Community. Learn more at www.in-q-tel.org.
About 3VR Security, Inc.
3VR Security, Inc. was founded to address the most pressing issue in the security industry today: overwhelming data stores. 3VR Security, Inc. developed the third generation video recorder; an appliance that not only performs the functionality of a high-end Digital Video Recorder (DVR), but also allows security professionals to find, sort and respond to data. By making complex technology simple, scalable and available to corporate security buyers, 3VR Security, Inc. helps companies to effectively respond to their security challenges.
