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[June 19, 2014]
Canon acquires Milestone to make major advance in network video surveillance business [Mid-East.Info]
(Mid-East.Info Via Acquire Media NewsEdge) Dubai, UAE: Canon, world leader in imaging solutions, today announced it has signed an agreement to acquire Denmark-based Milestone Systems A/S, a world leading provider of open platform video management software, via its subsidiary Canon Europa N.V. The new combination will create a formidable player in the fast growing network video surveillance market by combining the strengths of Canon's innovative imaging technology with Milestone's best in class video management software expertise.
Canon has a clear ambition to drive future growth through diversification and has identified network video surveillance as a strategic new business area. Bringing Milestone into the Canon Group will significantly enhance Canon's software capabilities in this sector.
Rokus van Iperen, President & CEO, Canon Europe, Middle East and Africa, explains: "Canon is aiming to take a leadership position in network video surveillance and we are making an important strategic investment today to realise our objective to expand in this market. Together with Milestone, we can accelerate our growth by delivering new advanced products and solutions for new sectors, through new channels, to offer greater customer value. We are very excited about working with such a talented and innovative company and we welcome Milestone into the Canon Group." Lars Thinggaard, President & CEO, Milestone Systems: "Milestone is extremely excited about the huge potential that being part of a global group will provide. Canon respects how we built our business with our partners and supports our strategy of providing open platform solutions and therefore the need to remain a standalone company within the Canon Group. We feel this step is right for taking both our business and support for suppliers and partners to a new level." Milestone is the world leader in video management software, with strong consultancy and training services and a major focus on innovation. This creates strong synergies with Canon's customer focus and R&D culture. As part of the Canon Group, Milestone will be able to accelerate its business and development of new products. In addition, Milestone will be able to use Canon's business and consumer channels to expand its global market presence.
Milestone's successful Open Platform business model is essential to its future success and Milestone will continue to provide open platform solutions to the market, while operating as a standalone company within the Canon Group. Canon fully supports Milestone's open platform strategy and respects their strong partnerships.
Following the completion of the acquisition, Milestone's management will remain in place and they are committed to making this transition a success.
About Milestone Systems: Founded in 1998, Milestone Systems is the global industry leader in open platform IP video management software, according to IHS Inc. (formerly IMS Research). Milestone technology delivers powerful surveillance that is easy to manage, reliable and proven in thousands of customer installations around the world. With support for the widest choice in network hardware and integration with other systems, Milestone provides best-in-class solutions to video enable organizations – managing risks, protecting people and assets, optimizing processes and reducing costs. Milestone software is sold through authorized and certified partners.
About Canon Europe: Canon Europe is the regional sales and marketing operation for Canon Inc., represented in 116 countries and employing 17,000 people across Europe, the Middle East and Africa (EMEA).
Founded in 1937 with the specific goal of making the best quality camera available to customers, Canon's tireless passion for the Power of Image has since extended its technology into many other markets and has established it as a world leader in both consumer and business imaging solutions. Its solutions comprise products, ranging from digital compact and SLR cameras, through broadcast lenses and portable X-ray machines, to multi-function and production printers, all supported by a range of value added services.
Canon invests heavily in R&D to deliver the richest and most innovative products and services to satisfy customers' creative needs. From amateur photographers to professional print companies, Canon enables each customer to realise their own passion for image.
Canon's corporate philosophy is Kyosei – 'living and working together for the common good'. In EMEA, Canon Europe pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon's products, solutions and services. Canon has achieved global certification to ISO 14001, demonstrating a world-class environmental management standard.
(c) 2014 mid-east.info Provided by SyndiGate Media Inc. (Syndigate.info).
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