MELVILLE, N.Y. — Canon U.S.A., a manufacturer of digital imaging solutions, announced that Canon Europe has signed an agreement to acquire Denmark-based Milestone Systems A/S, a provider of video management software, via its subsidiary Canon Europa N.V. The combination will create a significant player in the fast-growing network video surveillance market by combining the strengths of Canon’s imaging technology with Milestone’s video management software expertise.
“Canon is aiming to take a leadership position in network video surveillance and we are making an important strategic investment today to realize our objective to expand in this market,” said Rokus van Iperen, president and CEO of Canon Europe, Middle East and Africa. “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.”
“Milestone is extremely excited about the huge potential that being part of a global group will provide,” said Lars Thinggaard, president and CEO of Milestone Systems. “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 supplies video management software, including custom solutions for complex applications. 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 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. Following the completion of the acquisition, Milestone’s management will remain in place and said it is committed to making this transition a success.