Canon Acquires Milestone to Make Major Advance in Network Video Surveillance
LONDON, June 13, 2014
LONDON, June 13, 2014 /PRNewswire/ --
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.
(Logo: http://photos.prnewswire.com/prnh/20140613/691189 )
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 obje ctive 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
Following the completion of the acquisition, Milestone's management will
remain in place and they are committed to making this transition a success.
Contact: Will Hart - Nelson Bostock Communications - +44(0)20-77927421
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