As of our most recent check in after-hours trading, Cemtrex Inc. (NASDAQ: CETX) was up 9.44% to trade at $0.1785 on the charts. Despite the paucity of current news, analyzing recent occurrences will help you comprehend the CETX better.
CETX, what has lately occurred?
This month, Cemtrex (CETX) announced the appointment of Shane Compton as Chief Operating Officer of Vicon Industries, Inc., a creator, and producer of camera surveillance and authorization software, hardware, and components (COO). Mr. Compton, a skilled executive in the physical security sector, has over 20 years of experience holding the positions of the company’s operating chief officer, chief product officer, and chief technology officer at organizations that are leaders in their fields, including Costar Technologies and Pelco.
He oversaw projects to change internal processes throughout his tenure at these businesses, which increased profitability and promoted a truly customer-centric culture. His attention to the user experience has contributed significantly to the creation of cutting-edge security solutions and strengthened long-term client partnerships.
As COO, the new hire will oversee the worldwide sales, support, operations, and engineering teams at Cemtrex-subsidiary in order to increase operational effectiveness and strengthen Vicon’s dedication to providing first-rate customer service and support.
Throughout his twenty-year tenure, Mr. Compton contributed unmatched industry expertise, an exceptional track record of generating quantifiable outcomes, and operational excellence. His track record of fostering technological innovation and driving organizational advancements will be crucial in introducing fresh viewpoints, markets, and sales channels to Vicon.
He is viewed as a key asset by CETX in order to hasten the expansion and scalability of Vicon’s growing portfolio of software products and services. Moreover, in order to completely concentrate on its Vicon Industries and Advanced Industrial Services (AIS) businesses, CETX recently undertook a transformational reorganization in which it sold its Smartdesk and VR divisions. The restructure is the result of CETX’s earlier declared strategy change towards giving it’s core operations more priority.
How would the change aid CETX’s expansion?
As end-users look for a dependable source of video surveillance and access control solutions suitable for today’s highly dynamic environment, trends in the surveillance business are quickly shifting toward Video Surveillance as a Service (VSaaS). Allied Market Research forecasted that the global video surveillance and VSaaS market will reach over $83 billion by 2030 with an annual growth rate of 10.9% between 2021 and 2030. This speculates that Cemtrex (CETX) will continue to experience rising demand from significant customers for Vicon’s expanding line of Valerus products and software services.