Canon to Bolster Video Business with Briefcam Acquisition
Canon Inc. of Tokyo, Japan, reported on May 9th that it will acquire BriefCam, which is headquartered in Modi’in-Maccabim-Re’ut, Israel, for an undisclosed sum.
BriefCam develops and markets video-content analysis (VCA) software that uses proprietary Video Synopsis technology. The technology enables users to condense searches of hours of surveillance footage into only a few minutes.
The transaction is conditional upon the clearance of necessary competition regulatory authorities.
Under Phase V of its Excellent Global Corporation Plan, a five-year initiative launched in 2016, Canon says it aims to achieve new growth through a strategic transformation that entails reinforcing existing businesses, as well as strengthening and expanding new businesses. As part of this, Canon has designated its network video solutions business, with network cameras at its core, as a new business that will drive future growth.
Canon says the acquisition will expand its abilility to provide an even broader range of leading-edge technology and solutions in the fields of network cameras, video-management software, and video-content analysis software.
Going forward, Canon says it will continue to strengthen its network video-solutions business, with the aim of becoming the global industry leader.
Following this acquisition, BriefCam will continue to operate under the leadership of its current management structure and continue to provide its software to the market through its own sales channels.
Canon’s acquisition of BriefCam follows its acquisition four years ago of Axis Communications, which develops IP video-surveillance solutions.
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