Global video technology company Milestone Systems has announced that effective July, 2024, they will merge with the cloud-based video surveillance solutions provider, Arcules.
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.
The VSaaS market is predicted to experience exponential growth within the following years and at the same time Artificial Intelligence (AI) is creating new possibilities that were not possible just a year ago. By adding Arcules to Milestone’s product line, the company is optimally positioned to lead the video technology software industry.
This merger represents a transformative leap, combining robust video management with the agility and scalability of the cloud and the promise of leveraging AI. Combining forces is a bold step towards pioneering advancements in the rapidly growing VSaaS market.
With the rise of AI, they have the potential to derive insights from video data and support decision intelligence. The merger offers unparallelled 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.
Based in Irvine, California, Arcules was spun out from Milestone in 2017. The decision to reunite the companies is driven by a shared vision to deliver intelligent, data-driven video technology that empowers customers to make better decisions and optimise their operations.
Thomas Jensen, CEO of Milestone Systems, said: “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. As one company, we will shape the future of open-platform video technology.”
Andreas Pettersson, CEO of Arcules, said: “We are excited to rejoin Milestone, a global pioneer and trusted partner. This merger will accelerate our growth and innovation, delivering greater value to our customers and partners. Together, we are committed to realising our vision of empowering people, businesses, and societies through intelligent video solutions.” The merger is scheduled to be finalised by the end of the year.
