Canon to Acquire Video Analytics Firm BriefCam
The acquisition will expand Canon’s network video solutions business with the addition of BriefCam’s best-of-breed video content analytics platform.
MODI’IN, Israel — BriefCam, a provider of widely used rapid video review, search and analysis technology, announces its acquisition by Canon.
The financial details of the not-yet-completed transaction have not been disclosed.
The addition of BriefCam, based here, to Canon’s network video solutions products portfolio complements the Canon Group’s previous acquisitions of Axis Communications and Milestone Systems with a video content analytics solution.
The acquisition will drive further, rapid innovation in video analytics by BriefCam, as well as new co-innovation activities with Canon and its portfolio companies, according to an announcement.
The transaction will enable BriefCam to enter new markets, deliver stronger vertical solutions and serve its global customers even more effectively, the announcement states. BriefCam will continue to remain an open platform, working with other third-party products in the market ecosystem.
“We are thrilled to be joining forces with a global leader in digital imaging. The acquisition will allow BriefCam to continue to deliver industry leading video content analytics solutions, while remaining a standalone company within the Canon Group,” states Trevor Matz, BriefCam president and CEO. “The opportunity is a testament to the innovative technology we have built, the outstanding team we have assembled, and the rapidly growing business we have created.”
The addition of BriefCam will allow the company to deliver an even broader range of leading-edge technology and solutions in the fields of network cameras, video management software and video content analysis software, says Masanori Yamada, Canon managing executive officer and group executive, network visual solution business promotion headquarters
“We are very excited to work with such an innovative organization and we welcome BriefCam into the Canon Group,” he says.
Closing of the deal is subject to customary closing conditions.
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