Canon, world-leader in imaging solutions, today announced a new Video Cloud IoT as a Service business based in California called ARCUS Global Inc. Owned by Canon Europe and built on the intellectual property, technology and expertise of Canon Group company, Milestone Systems, ARCUS Global Inc. will address the significant unmet global market demand from large enterprises for Video Cloud IoT as a Service for security and business optimisation.
Rokus van Iperen, President & CEO, Canon Europe, Middle East & Africa, said, “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.”
Lars Thinggaard, President & CEO, Milestone Systems, said, “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.”
Lars Nordenlund Friis, CEO of ARCUS Global Inc., said, “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. To maximise that advantage, we’re basing ourselves in California and we are now on a major recruitment drive to bring new highly-skilled employees into the business.”
The new company will target an addressable global public cloud video management services market that is estimated to be worth between $10 & $20 billion by 2021*.