Globes: Canon buys Israeli video solutions co BriefCam
The Japanese digital imaging giant is buying the video synopsis and machine learning solutions company.
Japanese digital imaging products giant Canon has acquired Israeli video synopsis and machine learning solutions company BriefCam. Canon said that BriefCam’s innovative video content analytics solution will complement its network video solutions products portfolio. No financial details about the deal were disclosed but sources close to the transaction said that Canon is making the acquisitions for several tens of millions of dollars.
BriefCam said that the acquisition will drive further, rapid innovation in video analytics by BriefCam 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.
BriefCam president and CEO Trevor Matz said, “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. 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.”