TOKYO, May 9, 2018—Canon Inc. ("Canon"; Headquarters: Tokyo, Japan; Chairman and CEO: Fujio Mitarai) announced today that it has concluded a stock purchase agreement with BriefCam Ltd. ("BriefCam"; Headquarters: Modi'in-Maccabim-Re'ut, Israel; President and CEO: Trevor Matz), to acquire BriefCam. BriefCam develops and markets video content analysis (VCA) software that utilizes proprietary Video Synopsis® technology. This transaction is conditional upon the clearance of necessary competition regulatory authorities.
Under Phase V of its Excellent Global Corporation Plan, a five-year initiative launched in 2016, Canon aims to embrace the challenge of new growth through a grand strategic transformation that entails reinforcing existing businesses as well as strengthening and expanding new businesses. As part of this, Canon has designated its network video solutions business, with network cameras at its core, as a new business that will drive future growth.
By welcoming leading VCA software company BriefCam into the Canon Group, Canon will have expanded its capacity to provide an even broader range of leading-edge technology and solutions in the fields of network cameras, video management software and video content analysis software. Going forward, Canon will continue to strengthen its network video solutions business with the aim of becoming the global industry leader.
Following this acquisition, BriefCam will continue to operate under the leadership of its current management structure and continue to provide its software to the market through its own sales channels.
BriefCam was founded in 2007 by Prof. Shmuel Peleg, Mr. Gideon Ben-Zvi and Dr. Yaron Caspi, based on the Video Synopsis technology developed at The Hebrew University of Jerusalem. Using BriefCam's Video Synopsis technology, video investigators can review hours of video in minutes and rapidly pinpoint people and objects of interest. Users can search through the synopsized video using such filters as object size, speed, direction and color, facilitating instant access to the images they wish to review. BriefCam's technology is already in use in over 40 countries and regions in law enforcement and public safety organizations, government and transportation agencies, major enterprises, healthcare and educational institutions, and local communities.