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10/07/2014

Milestone CEO confirms way forward

Copenhagen, Denmark

Following the recent acquisition of Milestone Systems by worldwide camera and lens specialists, Canon Group, the deal was finalised on July 7th this week, and the President and CEO of Milestone Systems, Lars Thinggaard, has expressed not only his pride that Canon has chosen to acquire Milestone, but also his excitement about the move in terms of the company itself, and partners and customers alike.

In a letter to Milestone partners Mr Thinggaard confirms that as defined by the terms of the agreement Milestone Systems will remain as an independent, standalone company within the Canon Group, and that he believes that being part of a larger group will be advantageous for all concerned. 

He was also keen to express the continuity of the company's current position and the envisaged way forward for Milestone within the Canon Group to reassure customers and partners alike. "There will be no change in our business model, and the Milestone management will continue under the new structure. We are taking this step to accelerate the growth of our entire VMS ecosystem of partners and customers. Our open platform strategy is firmly supported by Canon for the success that it brings all of us.  Canon's business motivation for this acquisition is growth. With Milestone they will establish a significant footprint in the network video surveillance (NVS) market, and together we will be a much stronger partner to work with. Canon sees the need for advanced software capabilities and a strong partner network to accelerate the expansion of NVS business. As a key element in our success, maintaining our partners' relationships for the long run is a priority for both Canon and Milestone. Canon is committed to Milestone continuing to provide open platform solutions to the market, and appropriate measures will be taken to safeguard the integrity of all our partner relationships."

The letter went on to explain that Canon has a successful history of managing acquisitions this way; for example, they have demonstrated a proven track record using this method with their acquisitions of Onyx and I.R.I.S. Mr Thinggaard sees this as a good way to grow the business together and as a standalone company within the Canon Group, Milestone will continue to develop new products.

Mr Thinggaard is confident that Canon understands that the open platform is the key to Milestone's success - and to that of their partners and customers who are realising its advantages - as a result he believes that Canon will support the Milestone open culture and business model.  This means that customers and partners will continue to enjoy the freedom of choice in hardware and other systems to integrate with Milestone VMS.

Canon's network camera business has relationships with other VMS providers, just as Milestone does with other camera manufacturers. These will continue in parallel. "We have a long-standing relationship with Canon as one of our camera partners, and Milestone's support of the other 100+ camera manufacturers we work with will stay in force, as well. Canon confirms that they will respect the confidentiality of our partner relationships as a cornerstone in our continued success."

As part of the Canon Group, it is envisaged that Milestone will accelerate the growth of the VMS business through maximizing expansions into new market sectors and geographies, and by harnessing both companies' heritage in R&D and innovation. It is perhaps not so widely known that Canon is Number 3 in the world for patent registrations.  In the last year alone: more than 3,800 patents were registered by the group. The global resources of the Canon Group can only open up broader opportunities to explore.  Mr Thinggaard comments, "Milestone is always looking at new options to improve video surveillance and its many applications, convergence with business systems and processes, and new technologies that can be applied."

Mr Thinggaard finished the letter with an overwhelming thank you to all Milestone partners for the collaborations over the years and the commitment that has made this new stage of the journey possible for the company. "We have built this company together by combining our excellent products with your outstanding support towards customers; we have created an exceptional symbiosis in the industry. Canon choosing Milestone is an endorsement of our partner ecosystem achieving such success together." he concluded.



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