Johnson Controls International plc JCI reportedly acquired Nashville-based Smartvue Corporation. The acquired company is a provider of Internet of Things (IoT), and videos that empower IoT video services and cloud video surveillance. The terms of the deal have not been made public yet.
This recent acquisition will enable Johnson Controls to offer a cloud-based video surveillance solution under its building technology offerings. The newly-added solution will help the company offer better intelligence and business data to customers while adding value for its partners.
Per management, Smartvue’s open API cloud architecture will help it strengthen its ability to offer video-as-a-service in a more cost-efficient, fast and protected way. At present, Smartvue’s customers in 140 countries consist of cable companies, security firms and storage providers among others.
Johnson Controls International plc Price and Consensus
Johnson Controls International plc Price and Consensus | Johnson Controls International plc Quote
In 2015, Smartvue partnered with Microsoft as a part of latter’s Advanced Patrol Program to provide video surveillance in police cars.
Earlier in March, the company announced the plan to explore strategic alternatives for the power solutions division.
In the last three months, shares of Johnson Controls outperformed the industry it belongs to. During the period, its stock lost 10.4% in comparison with the industry’s slump of 31.3%.
Zacks Rank & Other Key Picks
Johnson Controls carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the auto space are Honda Motor Co., Ltd. HMC, Toyota Motor Corporation TM and Standard Motor Products, Inc. SMP. While Honda and Toyota sport a Zacks Rank #1 (Strong Buy), Standard Motor carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Honda has expected long-term growth rate of 5.2%. In the last six months, shares of the company rose 14.6%.
Toyota has expected long-term growth rate of 6.1%. In the last six months, shares of the company gained 6.2%.
Standard Motor has expected long-term growth rate of 6%. Shares of the company gained 3.7% over the last three months.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Honda Motor Co., Ltd. (HMC) : Free Stock Analysis Report
Toyota Motor Corporation (TM) : Free Stock Analysis Report
Johnson Controls International plc (JCI) : Free Stock Analysis Report
Standard Motor Products, Inc. (SMP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research