After spinning off Arcules several years ago, Milestone Systems announced Thursday it’s reuniting with the company as Milestone executives pursue an ambition to become a “global leader” in data-driven video technology software.
Milestone says the merger with Irvine, Calif.-based Arcules – which was spun out from Milestone in 2017 – will brings together the companies’ “best-in-class” capabilities within video management software (VMS), video analytics and video surveillance as a service (VSaaS),” which they envision will provide the market a complete video technology offering.
The merger, effective July 1, is scheduled to be finalized by the end of the year.
Milestone and Arcules already operate within the Canon Group. As one united company, end customers and partners will experience increased ease-of-use with a more seamless full line of products, a spokesperson for Milestone says.
“Milestone and Arcules have a strong existing partnership and a common DNA. By uniting and working as one, we can provide a world-class offering that suits many different needs and gives customers greater freedom of choice,” says Milestone CEO Thomas Jensen. “As one company, we will shape the future of open-platform video technology.”
Andreas Pettersson, CEO of Arcules, said in a statement the company is “excited” to rejoin Milestone. “This merger will accelerate our growth and innovation, delivering great value to our customers and partners. Together, we are committed to realizing our vision of empowering people, businesses, and societies through intelligent video solutions.”
Milestone says the VSaaS market is predicted to experience exponential growth within the following years.
“At the same time, artificial intelligence is creating new possibilities that were not possible just a year ago. By adding Arcules to Milestone’s product line, the company is optimally positioned to lead the video technology software industry,” a Milestone spokesperson told SecurityInfoWatch. “With the rise of AI, we have the potential to derive insights from video data and support decision intelligence.
“The merger offers unparallelled ability to exploit the rapidly changing AI landscape, from on-prem to cloud, and both Milestone and Arcules are advanced in working with video analytics. The combination of these strengths will provide significant market advantages.”
