Arlo technologies, inc. and verisure sÀrl signs definitive agreements to create strategic partnership leveraging each company’s deep expertise and demonstrated success to protect and serve millions of european customers

Arlo technologies, inc. and verisure sÀrl announced that they have entered into definitive agreements to create a strategic partnership that leverages both companies’ capabilities to create incremental scale to address ever-growing demand for residential and commercial security. the companies will combine arlo’s innovative connected cameras and cloud services platform with verisure’s professionally monitored security solutions to provide a new level of smart security for european customers. the strategic partnership will create the first european multi-channel go-to-market strategy for consumer security and surveillance services by adding arlo’s retail and e-commerce channels to verisure’s existing direct sales channels. the addition of arlo’s european commercial operations will enable verisure to accelerate adoption of security and surveillance services across europe, as well as bolster arlo’s position as the industry leader in smart home security solutions. with a common vision and commitment to delivering peace of mind for customers through a wide range of connected security and surveillance products and services, the partnership will leverage both companies’ deep expertise and demonstrated success to protect and serve millions of customers. the strategic partnership includes two connected elements: sale of arlo’s european commercial operations: verisure will acquire arlo’s european commercial operations for $50 million. this will include marketing and distribution of arlo products and services, the arlo brand in europe, and arlo’s existing installed base in europe. arlo will continue to own and grow its channels of distribution in territories outside of europe. the combined insights and efforts between the two companies will accelerate the adoption of arlo’s products and services globally. multi-channel supply partnership: in connection with verisure’s addition of arlo’s retail and e-commerce go-to-market channels, arlo will become a key supplier to verisure for smart security cameras. verisure has a guaranteed minimum purchase commitment of $500 million cumulatively over the next five years. verisure will also purchase associated cloud services from arlo, including artificial intelligence, computer vision and other advanced technologies.
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