Weapons detection technology provider Patriot One recently changed its name to Xtract One, part of a busy fall that saw the company sign an important agreement with venue owner and operator Oak View Group and several new deals to bring its security scanning devices to venues.
The name change, which the company said was due in part to possible objections by potential customers to the word “Patriot,” was completed on Dec. 1, with the new name for the Toronto-based company now officially “Xtract One Technologies Inc.” The name change follows an October announcement of a formal partnership with Oak View Group (OVG) under which OVG will be able to offer the Xtract One security scanners to the venues it owns or manages, most likely at a discounted rate.
Xtract One, which had previously been deployed at several OVG venues prior to the agreement, including Climate Pledge Arena in Seattle and the Moody Center at the University of Texas, announced several new venue deals linked to the OVG announcement, including new deployments at Acrisure Arena in Palm Springs, Calif., and at the Angel of the Winds Arena in Everett, Wash.
In an October interview, Xtract One CEO Peter Evans called the OVG partnership a “huge” validation of the company’s technology, especially since OVG has its own security arm, an offshoot called Prevent Advisors, with security experts who provide rigorous testing of security procedures and technologies.
Evans also said that through the partnership Xtract One would be able to offer a streamlined purchase-ordering process to all the OVG venues, instead of having to create separate agreements for each deal it might want to strike. While the partnership does not preclude Xtract One from selling to non-OVG venues, Evans said that the economies of scale would allow Xtract One to “price more competitively” for OVG arenas.
According to the company’s most recent financial report, Xtract One said it recognized $3.6 million (Canadian dollars) revenue for 2022, a 235 percent increase from the previous year. Xtract One is one of the leading providers in the new space for security scanning technology for stadiums, alongside Evolv and CEIA. For a look at the overall security scanning marketplace for stadiums, please see our previous feature on the subject.
