Motorola Solutions Inc. (NYSE: MSI) recently announced that it has acquired Openpath Security Inc., a provider of security tools. Once the deal closes by the end of July 2021, the company will receive technologies that will improve its equipment’s attractiveness.
The terms and financial details of the deal have not been released yet. But Openpath’s contactless authentication technology is modern and multi-factor. The authentication consists of a smartphone, a token, and a photosensor. When the owner of a certain ID on their smartphone along with their token-key fob is at the doors or elevators, they can swipe their hands near the corresponding button to open the door or elevator.
These systems can be used for the quick and safe access of computing equipment, the restriction of movement in buildings, the creation of a multi-level research and production site access system, and much more.
Motorola Solutions Inc. (MSI) is able to use Openpath tools and its smart video surveillance system, which runs on the cloud.
For example, such a system can recognize a face and record the moment of entry into a room on video with additional authentication. For Motorola, integrated security solutions are a promising direction.
Several organizations are tightening control over office and other spaces, and this trend will continue. There is a chance that in the future, other technologies related to personnel search and cyber defense of teleworking will become more prominent. However, Motorola Solutions Inc. (MSI) has room for further sales growth.
Motorola Solutions Inc. (MSI) share price remained at $219.99 during the last trading session on Friday. The company has a total market value of $37.77 billion along with 169.30 million outstanding shares.