Financial terms of the deal, which was announced July 13, were not disclosed. The transaction is expected to close by the end of July.
Openpath’s founders, Chief Executive Alex Kazerani and President James Segil, will report to John Kedzierski, who manages the video security and analytics department for Chicago-based Motorola Solutions.
“With Motorola Solutions, we will continue to pioneer the future of the access control industry,” Kazerani said in a statement. “We couldn’t be more excited to work together in bringing best-in-class, innovative solutions to organizations around the world to make their business a safer place to be.”
The acquisition follows other major purchases of security technology companies by Motorola Solutions. In 2018, the company spent about $1 billion for Avigilon, a Vancouver-based video surveillance and analytics company. And in 2020, it paid $110 million for Pelco, a Fresno-based video security company.
Motorola Solutions will use Openpath’s capabilities to bolster its security offerings for businesses using video and remote access control.
“Securing businesses around the world has never been more critical,” Greg Brown, Motorola’s chairman and chief executive, said in a statement. “This acquisition enables us to combine the power of video security and access control together.”
Openpath creates touchless, mobile-based door lock systems. Its systems use physical sensors installed at doors that can be locked and unlocked through mobile devices.
Openpath Is Acquired by Motorola for Mobile Security Technology