ARCUS Global will offer Video Cloud IoT as a service solutions for security and business optimization
Imaging solutions firm Canon announced a new video cloud IoT as a Service business in the U.S. The new company, called ARCUS Global, is based in California and will be owned by Canon Europe and built on the intellectual property, technology and expertise of Canon Group company, Milestone System.
The company said ARCUS Global 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,” Rokus van Iperen, President & CEO, Canon Europe, Middle East & Africa, said. “Our investment in ARCUS Global is the latest demonstration of our commitment and strategy to strengthen our position in this rapidly developing market.”
“We are proud to deliver the technology and know-how that ARCUS Global 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 Thinggaard, President & CEO, Milestone Systems, 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,” Lars Nordenlund Friis, CEO of ARCUS Global ,said.” “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 maximize 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.”
Canon said that Arcus will target an addressable global public cloud video management services market that is estimated to be worth between $10 and $20 billion by 2021.
