Canon to acquire Axis, expand video surveillance

7992 Canon is to buy Swedish network video solutions specialist 2215 Axis Communications for US$2.8 billion, in the Japanese camera maker’s biggest-ever acquisition.

As a key strategy toward the achievement its goal of maintaining its highly profitable structure and joining the ranks of the world’s top 100 companies, Canon aims to develop new business through globalised diversification.

Canon sees network video surveillance as a promising new business area and says the combination of its own optical and imaging technologies and Axis’ network image processing technology will enable both companies to offer innovative, sophisticated network video solutions.

Canon has global distribution and service network for its camera products and business equipment, while Axis has a well-established worldwide network of 75,000 business partners, including system integrators. By adding Axis to the Canon Group, Canon will add Axis’s distribution and service channels for network system products.