Milestone Systems announced that it will merge with Arcules, a cloud-based video surveillance solutions provider, effective July 1.
Based in Irvine, Calif., Arcules was spun out from Copenhagen-based Milestone in 2017. The decision to reunify the companies was driven by a shared vision to deliver intelligent, data-driven video technology that empowers customers to make better decisions and optimize their operations, according to the announcement.
The merger brings together Milestone and Arcules’ best-in-class capabilities within video management software (VMS), video analytics and video surveillance as a service (VSaaS), providing a complete video technology offering, according to the announcement.
The VSaas market is forecast to experience exponential growth within the following years. At the same time, artificial intelligence (AI) is creating new possibilities that were not possible even a year ago. By adding Arcules to Milestone’s product line, the company is optimally positioned to lead the video technology software industry, according to the announcement.
The merger is said to represent a transformative leap, combining robust video management with the agility and scalability of the cloud and promise of leverage AI. Combining forces is a bold step toward pioneering advancements in the rapidly growing VSaaS market, according to the announcement.
With the rise of AI, the combined companies have the potential to derive insights from video data and support decision intelligence. The merger is said to offer unparalleled ability to exploit the rapidly changing AI landscape from on-prem to cloud and both Milestone and Arcules are advanced in working with video analytics. The combination of these strengths will provide significant market advantages.
“Milestone and Arcules have a strong existing partnership and a common DNA. By uniting and working as one, we can provide a world-class offering that suits many different needs and gives customers greater freedom of choice,” stated Thomas Jensen, CEO of Milestone Systems. “As one company, we will shape the future of open-platform video technology.”
Arcules CEO Andreas Pettersson said, “We are excited to rejoin Milestone, a global leader and trusted partner. This merger will accelerate our growth and innovation, delivering greater value to our customers and partners. Together, we are committed to realizing our vision of empowering people, businesses, and societies through intelligent video solutions.”
The merger is scheduled to be finalized by the end of the year.
