Canon Inc has concluded a stock purchase agreement with BriefCam Ltd. to acquire Briefcam. Briefcam develops and markets video content analysis (VCA) software that utilises proprietary Video Synopsis technology. This transaction is conditional upon the clearance of necessary competition regulatory authorities.
The addition of Briefcam to Canon’s market leading Network Video Solutions products portfolio complements the Canon Group’s previous acquisitions of Axis Communications and Milestone Systems with a breakthrough, innovative 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 market leading portfolio companies. In addition, it will enable Briefcam to enter new markets, deliver stronger vertical solutions, and serve its global customers even more effectively. Briefcam will continue to remain an open platform, working seamlessly with other third party products in the market ecosystem, providing customers with freedom of choice.
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.
“With Briefcam, we can 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 to customers and partners across the globe. We are very excited to work with such an innovative organization and we welcome Briefcam into the Canon Group, states Masanori Yamada, Canon Inc. Managing Executive Officer and Group Executive, Network Visual Solution Business Promotion Headquarters.