Israeli Video Content Analytics Startup BriefCam today announced its acquisition by Japanese digital imaging products giant Canon Inc.
BriefCam addition to Canon’s network video solutions products portfolio complements the Canon Group’s previous acquisitions of Swedish AXIS Communications, a manufacturer of network cameras for the physical security and video surveillance.
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No financial details about the deal were disclosed, but sources close to deal said that Canon will pay tens of millions of dollars.
According to BriefCam the acquisition will drive further, rapid innovation in video analytics by the company as well as new co-innovation activities with Canon and its market-leading portfolio companies.
It will also 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.
Founded in 2007 by Prof Shmuel Peleg, Gideon Ben-Zvi, and Dr. Yaron Caspi, BriefCam based on the Video Synopsis technology and Deep Learning, developed at The Hebrew University of Jerusalem.
BriefCam provides solutions for rapid video review and search, smart alerting and quantitative video insights. By transforming raw video into actionable intelligence, BriefCam dramatically shortens the time-to-target for security threats while increasing safety and optimizing operations.
BriefCam’s award-winning products are deployed by law enforcement and public safety organizations, government and transportation agencies, major enterprises, healthcare and educational institutions, and local communities worldwide.
“We are thrilled to be joining forces with a global leader in digital imaging. The acquisition will allow BriefCam to continue to deliver industry leading video content analytics solutions, while remaining a standalone company within the Canon Group,” said Trevor Matz, BriefCam President and CEO. “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,” said Masanori Yamada, Canon Inc. Managing Executive Officer and Group Executive, Network Visual Solution Business Promotion Headquarters.
The closing of the deal is subject to customary closing conditions.