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Bulgaria-active Milestone Systems, U.S.-based Arcules merge

Jul 3, 2024, 12:41:58 PMArticle by Mihaela Miteva
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July 3 (SeeNews) - Denmark-based video technology software developer Milestone Systems, active in a number of countries including Bulgaria, said on Wednesday that it is merging with U.S.-headquartered cloud-based video surveillance solutions provider Arcules.

Bulgaria-active Milestone Systems, U.S.-based Arcules merge
Milestone Systems CEO Thomas Jensen and Arcules CEO Andreas Pettersson. Photo: Milestone Systems

The deal, expected to be finalised by the end of 2024, will unite Milestone and Arcules' services in video management software (VMS), video analytics and video surveillance as a service (VSaaS), providing a comprehensive video technology solution, Milestone Systems said in a press release.

The merger will combine video management with the flexibility and scalability of a cloud solution and the development of AI, driving success in the rapidly growing VSaaS market.

"Milestone and Arcules have a strong partnership with traditions and common DNA. By coming together and working as one, we can offer a world-class solution that meets many different needs and gives customers greater freedom of choice. As one company, we will shape the future of the open platform for video technology," Milestone Systems CEO Thomas Jensen said.

Arcules, headquartered in Irvine, California, was spun off from Milestone Systems in 2017. The merger decision is based on the companies' shared vision to deliver intelligent, data-driven video technology that empowers customers to make better decisions and optimise their operations.

Founded in 1998, Milestone Systems is a standalone company within Japan's Canon Group, with regional offices and sales representatives in over 25 countries, its website shows. The company's video management software is used by over 500,000 customer sites worldwide.

Milestone entered the Bulgarian market in 2011 and currently employs more than 200 staff in the country, making it the company's second-largest site globally.

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