French VCs exit RSI Video in trade sale to Honeywell

Honeywell is engaged in a range of industries, from aerospace to control technologies and turbochargers. RSI will become part of Honeywell Security and Fire, which focuses on electronic security and life safety technologies for commercial buildings, industrial sites and homes. The division is a business unit of Honeywell Automation and Control Solutions.

According to French media reports, the most recent investors in RSI are believed to have a reaped a 4-5x return on their investment following the sale to Honeywell.

Previous funding
Serena Capital and A Plus Finance invested €6.47m in RSI in 2009, alongside previous investors Galileo Partners, CDC Innovation and Techfund Europe Management. Serena led the investment, providing €3.6m of the total; A Plus provided €1.5m while the returning investors made up the balance, according to unquote" data.

RSI had received three previous rounds before the 2009 deal. In October 2001, Odyseé Venture and a private investor injected €1.7m in an initial round of funding. In December 2002, Galileo joined Odyseé and a private investor for a €3m second round. In November 2004, Techfund, CDC Innovation and 123 Multinova supplied €2m alongside the previous investors.

Company
RSI was founded in 2000 and is based in Strasbourg, with further operations in the US. The company develops intrusion detection systems for commercial and residential security applications. These are marketed under the Videofied brand.

People
Honeywell Automation and Control Solutions – Alex Ismail (CEO).

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