GEC NEWS WIREMilestone Systems will merge with Arcules, a cloud-based video surveillance solutions provider, effective July 1, 2024.
The merger combines 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.
A Vision for the Future
The VSaaS market is predicted to experience exponential growth within the following years, and 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, joint companies have the potential to derive insights from video data and support decision intelligence. The merger offers an unparalleled ability to exploit the rapidly changing AI landscape from on-premise 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, U.S., Arcules was spun 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.
Common DNA
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 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.”
