Austin’s Dean Drako Buys Maryland-Based Security Manager Brivo for $50M
Brivo, based in Bethusda, MD, sells a security management system called Brivo OnAir, which offers cloud-based physical access control and video surveillance. Drako will serve as chairman, and Brivo’s current president and CEO will remain in those roles, a spokesperson said.
Drako is currently president and CEO of Eagle Eye Networks, a company he founded in 2012. Eagle Eye, which provides a cloud-based video surveillance service, received a “multimillion-dollar” venture round in 2014 from Michael Dell’s private investment fund, MSD Capital.
In July, Brivo is going to begin selling its cloud-based access control systems along with Eagle Eye’s cloud-based security camera system, according to a statement. The companies will continue to be operated as separate entities, however.
Barracuda Networks (NYSE: CUDA), which Drako co-founded in 2003, provides network and cloud security services, protecting against everything from hackers to spam.