Danish startup Milestone joins Canon Group
After months of rumours about a David/Goliath partnership, Danish startup Milestone have been acquired by the Canon Group for an undisclosed deal expected to be worth around €150m.
Milestone are one of the best-established startups in the area, having been in business since 1998. Their 400 staff and network of 13 offices also make them one of the largest. Their value as a leading provider of open platform video management software went under-appreciated for many years, but it was this expertise that caught Canon's eye, as the company look to enter the video surveillance market.
Milestone already has a successful business model, but this partnership with a global brand will enable them to further accelerate their growth. Meanwhile, Canon are aiming to grow their software capability in the video surveillance sector, and expand their already strong presence in the worldwide market.
The benefits of this collaboration are exciting for both parties. Canon has recognised there is real value in having an innovative tech startup in-house, and Milestone can gain insight and prestige from Canon's 77 years of experience in the camera industry.