Arlo to Partner With Verisure to Protect European Customers
San Diego – November 20, 2019 – Cooley advised Arlo Technologies, the leading internet-connected camera brand, on its agreement to enter into a strategic partnership with Verisure Sàrl, provider of monitored security solutions to millions in Europe. Partners Barbara Borden, Tom Coll and Charles Haley led the Cooley team advising Arlo.
The strategic partnership will leverage both companies’ capabilities to create incremental scale to address ever-growing demand for residential and commercial security, providing a new level of smart security for European customers. Under the terms of the agreement, Verisure will acquire Arlo’s European commercial operations for $50 million and Arlo will become a key supplier to Verisure for smart security cameras.
“Arlo and Verisure share the same singular mission to provide their customers with peace of mind through connected security products and services that protect what matters most,” Arlo CEO Matthew McRae said in a news release. “The agreement enables each brand to further accelerate their growth and innovation streams to deliver smart security solutions across residential and commercial markets, leveraging Arlo’s industry-leading cloud platform and services that deliver more than 120 million video events a day.”
Arlo’s deep expertise in product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience that is easy to setup and interact with every day.
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