ARVOO Imaging Products (hereafter ARVOO) has brought in Capital A as its new majority shareholder and sponsor for the company's next growth phase.
This new partnership establishes a solid financial foundation with the aim of further expanding as a global player in image processing technology. In this phase, the current management, consisting of Fons Grijpink (CEO) and founder René Voorwinden (CTO), who are also shareholders, will continue to lead the daily operations.
ARVOO is a developer in the field of complex digital image processing through the use of artificial intelligence and develops both the hardware and software in-house. This image processing technology is used for various applications, including ARVOO's developed camera system, ScanGenius. ScanGenius is a leading and globally used camera system with accompanying software, used by local municipalities and government authorities for digital parking enforcement. With ScanGenius, ARVOO is the undisputed market leader in this industry in the Netherlands.
Furthermore, ARVOO develops ANPR cameras and associated software that can be used for various applications, such as access control, detecting illegal and dangerous traffic situations, enforcement at the boundaries of low emission zones, as well as within the agricultural sector.
"In recent years, we have worked hard to transform ARVOO from an innovative project organization into a focused product organization," says Fons Grijpink, CEO and co-shareholder of ARVOO. "Today, we are proud to announce that, along with investor Capital A, we will continue to build the future of ARVOO. Our new partner will support us in the process of further globalization and expanding our business, a path we have already embarked on in recent years. This step makes us more agile and grants us access to a strong network of professionals who assist companies in building and growing."
"It's wonderful to see the international demand for ARVOO's innovative products and services that deliver significant value in various sectors. Together, we look forward to further expanding ARVOO's success into new cities and countries, while also exploring the applicability of the underlying image processing technology in new sectors. We aim to accelerate autonomous growth where it makes sense with a selective buy-and-build strategy," says Lars Valkenburg, Investment Manager at Capital A.
The daily management of ARVOO remains with Fons Grijpink (CEO) and René Voorwinden (CTO), while Capital A will play an advisory and supportive role. ARVOO is built on a strong and unique DNA that will be maximized to realize its (international) growth ambitions. With the arrival of Capital A, the continuity and stability of ARVOO are ensured.
ABN AMRO has assisted the shareholders of ARVOO as a financial advisor in the search for a suitable partner.
ARVOO was founded in 1993 as an engineering firm specializing in automatic image and signal processing by computers. Over time, the company has further evolved, including the integration of artificial intelligence. This thirty years of experience and passion for image processing technology make ARVOO a unique company within the industry. ARVOO has a team of innovative hardware and software developers who continuously collaborate on new applications and products. Market demand guides their development efforts, ensuring that the team aligns with the needs of the market. Since ARVOO develops both the hardware and software in-house, the lines of communication are short, enabling rapid response to customer preferences and requirements.