The company said in a statement the acquisition will complement its other recent acquisitions of Axis Communications and Milestone Systems.
According to the statement, “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.” BriefCam will remain an open platform and will continue to work with other third-party products.
“We are thrilled to be joining forces with a global leader in digital imaging,” said Trevor Matz, president and CEO, BriefCam. “The acquisition will allow BriefCam to continue to deliver industry leading video content analytics solutions, while remaining a standalone company within the Canon Group. 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.”
“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,” added Masanori Yamada, Canon Inc. Managing Executive Officer and Group Executive, Network Visual Solution Business Promotion Headquarters.
The deal is subject to customary closing conditions.