In a major move in the video technology industry, Milestone Systems and Arcules, two leading providers of cloud-based video surveillance solutions, have announced their merger. The companies aim to combine their strengths in video management software, analytics, and cloud-based solutions to provide a world-class offering that meets various needs and offers customers greater freedom of choice.
The VSaaS market is expected to see significant growth in the coming years, and Milestone believes that AI is opening up new possibilities that were previously unimaginable. By integrating Arcules into its product line, the company aims to position itself optimally in the industry.
Milestone Systems CEO Thomas Jensen noted that the existing partnership between Milestone and Arcules has been strong. He believes that the two companies share a common DNA and, by working together as one, they can provide a world-class offering that meets various needs and offers customers greater freedom of choice.
The merger is expected to combine video management with the agility and scalability of the cloud, as well as the potential of leveraging artificial intelligence. This represents a bold step towards advancements in the VSaaS market. The joint companies aim to extract insights from video data and support decision intelligence with the increasing role of AI.
Prior to the merger, Arcules was spun out from Milestone in 2017. The decision to reunite the companies is rooted in a shared vision to deliver intelligent, data-driven video technology that empowers customers in decision-making and optimizing their operations. Arcules CEO Andreas Pettersson expressed excitement about rejoining Milestone, a trusted global leader and partner. He believes that this merger will accelerate their growth and innovation, delivering greater value to customers and partners.
The merger will be effective from 1 July 2024, bringing together their capabilities in video management software (VMS), video analytics, and video surveillance-as-a-service (VSaaS).
