Arlo to provide SaaS platform services, AI analytics, and innovative products
in support of Verisure’s growing European business for another five
years
SAN JOSE, Calif. — May 9, 2024 — Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, announced today the
renewal of its strategic partnership agreement with Verisure, the leading
provider of monitored security solutions in Europe. Under the terms of the
partnership, which will continue until 2029, Arlo will continue to be an
important supplier to Verisure, delivering cloud platform services, AI
computer vision solutions, AI-powered security services, and innovative
products to support Verisure in both its retail business and direct security
channel, which have more than 5M customers across Europe and Latin America
today.
Arlo offers an award-winning portfolio of smart security services and devices
based on nearly a decade of innovation and intellectual property. This deep
expertise in software, artificial intelligence, computer vision, wireless
connectivity, product design, and cloud infrastructure is focused on
delivering a seamless, smart home security experience for users that is simple
to set up but powerful in capabilities. Paired with Verisure’s leading
security ecosystem and professional monitoring, Arlo and Verisure will
continue to work together to deliver best-in-class security solutions to
customers across Europe.
“Our companies have a shared vision to provide excellent security
solutions and I am proud of what we have accomplished together in the first
term of the partnership,” said Matthew McRae, CEO of Arlo Technologies.
“I look forward to supporting Verisure for another five years as they
continue to grow, innovate, and serve the European region with a truly
outstanding security solution.”
Verisure is the leading European provider of professionally monitored security
systems with 24/7 response services. The company’s mission is to bring
peace of mind to families and small business owners by providing them with the
best security solutions and services. Verisure is known for category-creating
marketing, sales excellence, innovative products and services, and
customer-centricity. Verisure also has a highly satisfied and loyal customer
base, with some of the strongest growth rates and best retention rates
globally in consumer-facing services, demonstrating its exceptional service
levels and strong value proposition to its customers.
About Arlo Technologies, Inc.
Arlo is an award-winning, industry leader that is transforming the ways in
which people can protect everything that matters to them with advanced home,
business, and personal security solutions. Arlo's deep expertise in AI- and
CV-powered analytics, cloud services, user experience and product design, and
innovative wireless and RF connectivity enables the delivery of a seamless,
smart security experience for Arlo users that is easy to set up and interact
with every day. Arlo's cloud-based platform provides users with visibility,
insight, and a powerful means to help protect and connect in real-time with
the people and things that matter most, from any location with a Wi-Fi or a
cellular connection. Arlo has recently launched several categories of
award-winning connected devices, software, and services. These include
wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells,
floodlights, security system, and Arlo's subscription services: Arlo Secure
and Arlo Safe.
With a mission to bring users peace of mind, Arlo is as passionate about
protecting user privacy as it is about safeguarding homes and families. Arlo
is committed to implementing industry standards for data protection designed
to keep users' personal information private and in their control. Arlo
provides enhanced controls for user data, supports privacy legislation, keeps
user data safely secure, and puts security at the forefront of company
culture.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:
This press release contains forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995. The words
"anticipate," "expect," "believe," "will," "may," "should," "estimate,"
"project," "outlook," "forecast" or other similar words are used to identify
such forward-looking statements. However, the absence of these words does not
mean that the statements are not forward-looking. The forward-looking
statements represent Arlo Technologies, Inc.'s (the "Company" or "Arlo")
expectations or beliefs concerning future events based on information
available at the time such statements were made and include statements
regarding lowering the barrier of entry and broadening the market for DIT
security and Arlo cameras, Arlo video doorbells, Arlo Secure, Arlo Secure
Plus, and future Arlo products. These statements are based on management's
current expectations and are subject to certain risks and uncertainties,
including the following: future demand for the Company's products may be lower
than anticipated; consumers may choose not to utilize payment plans or to
adopt the Company's new product offerings, or may adopt competing products;
and product performance may be adversely affected by real-world operating
conditions. Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate. Therefore,
actual outcomes and results may differ materially from what is expressed or
forecast in such forward-looking statements. Further information on potential
risk factors that could affect Arlo and its business are detailed in the
Company's periodic filings with the Securities and Exchange Commission,
including, but not limited to, those risk factors described in the Company's
most recently filed Annual Report on Form 10-K and Quarterly Report on Form
10-Q and subsequent filings with the Securities and Exchange Commission. Given
these circumstances, you should not place undue reliance on these
forward-looking statements. Arlo undertakes no obligation to release publicly
any revisions to any forward-looking statements contained herein to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Press Contacts
press@arlo.com
951-296-7515