Milestone Systems, a leading global video technology company, and Arcules, a cloud-based video surveillance solutions provider, have recently announced their merger. The purpose of this union is to combine the strengths of both companies in video management software, analytics, and cloud-based solutions. The merger will become effective from July 1, 2024, reflecting the companies’ capabilities in video management software (VMS), video analytics, and video surveillance-as-a-service (VSaaS).
The VSaaS market is expected to experience significant growth in the coming years as AI technology opens up new possibilities that were previously unimaginable. By integrating Arcules into Milestone’s product line, the company aims to position itself optimally in the video technology software industry. Thomas Jensen, CEO of Milestone Systems, emphasized that Milestone and Arcules share a common DNA and have a strong existing partnership. By joining forces, they will provide customers with a comprehensive offering that caters to diverse needs while granting them greater freedom of choice.
Through this merger, Milestone and Arcules plan to merge video management with the agility and scalability of the cloud while leveraging artificial intelligence (AI) technologies. This move represents a bold step towards progress in the VSaaS market as it enables the companies to extract insights from video data and support decision-making with AI. Both companies are experts in working with video analytics and are prepared to navigate the evolving AI landscape from on-premise to cloud setups.
Andreas Pettersson, CEO of Arcules expressed his excitement about rejoining Milestone as he believes that this merger will accelerate growth and innovation ultimately delivering greater value to customers and partners.
Overall, this merger marks an exciting milestone for both companies as they look forward to providing customers with innovative solutions that leverage AI technology while improving operational efficiency through intelligent decision making processes.