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Canon announces Milestone spin-off

According to a statement issued by Canon Europe, ARCUS “will address the significant unmet global market demand from large enterprises for Video Cloud IoT as a Service for security and business optimization.”

“We have identified Network Visual Solutions (NVS) as a key pillar of Canon’s future growth and have already made important steps in this space including the acquisitions of Milestone Systems and Axis Communications. Our investment in ARCUS Global Inc. is the latest demonstration of our commitment and strategy to strengthen our position in this rapidly developing market,” said Rokus van Iperen, President & CEO, Canon Europe, Middle East & Africa, in a statement.

“We are proud to deliver the technology and know-how that ARCUS Global Inc. will use as their foundation. The spin-off allows us to continue to grow Milestone’s leadership position within on premise and private cloud video management solutions, where we continue to increase our investments,” added Lars Thinggaard, president and CEO, Milestone Systems.

Lars Nordenlund Friis has been named CEO of ARCUS Global. “We are excited to launch our new company today and to introduce Video Cloud IoT as a Service not currently offered to the global enterprise market. We have a clear competitive advantage by drawing on the strengths of Milestone Systems and partnering with global leaders in public cloud infrastructure and IT technology,” he said.

The company will be based in California and is currently on a recruitment drive to bring new, skilled employees into the business.