Global video technology company Milestone Systems will merge with cloud-based video surveillance solutions provider Arcules. The merger process got underway on July 1, 2024.
The merger sees Milestone and Arcules combine their capabilities within video management software, video analytics and Video Surveillance as a Service (VSaaS), providing a complete video technology offering.
“Milestone and Arcules have a strong existing partnership and a common DNA,” said Milestone Systems CEO Thomas Jensen. “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.”
“This merger will accelerate our growth and innovation, delivering greater value to our customers and partners,” said Arcules CEO Andreas Pettersson. “Together, we are committed to realising our vision of empowering people, businesses, and societies through intelligent video solutions.”
In a statement, Milestone said the VSaaS market is predicted to experience exponential growth within the following years. At the same time artificial intelligence is creating new possibilities that were not possible just a year ago. By adding Arcules to Milestone’s product line, the company says it 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 promise of leveraging AI,” the statement reads. “Combining forces is a bold step towards pioneering advancements in the rapidly growing VSaaS market.”
Based in Irvine, California, Arcules was spun out from Milestone in 2017. The decision to reunite the companies is driven by a goal to deliver intelligent, data-driven video technology that empowers customers to make better decisions and optimise their operations. The merger is scheduled to finalise by the end of 2024.
