Video technology company Milestone Systems has announced its merger with cloud-based video surveillance solutions provider Arcules. The merger will combine the companies' capabilities in video management software, video analytics, and video surveillance as a service, providing a complete video technology offering.
The VSaaS market is predicted to experience growth in the coming years, and artificial intelligence is creating new possibilities. AI enables the extraction of insights from video data, thereby bolstering decision intelligence. The merger aims to combine video management with the agility and scalability of the cloud, as well as leverage AI to drive advancements in the VSaaS market.
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“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,” said Thomas Jensen, CEO of Milestone Systems.
Andreas Pettersson, CEO of Arcules, added, “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 2024.
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