Global video technology company Milestone Systems has announced that effective 1 July 2024, it will merge with the cloud-based video surveillance solutions provider, Arcules.
According to the company, the merger brings together Milestone and Arcules’ best-in-class capabilities within video management software (VMS), video analytics and video surveillance as a service (VSaaS), providing a complete video technology offering.
Based in Irvine, California, Arcules was spun out from Milestone in 2017.
The decision to reunite the companies is driven by a shared vision to deliver intelligent, data-driven video technology that empowers customers to make better decisions and optimize their operations, the company says.
By adding Arcules to its product line, Milestone Systems says that it is optimally positioned to lead the video technology software industry.
Additionally, the company highlights that the merger offers unparalleled ability to exploit the rapidly changing AI landscape from on-prem to cloud and both organizations are advanced in working with video analytics.
The combination of these strengths will provide significant market advantages.
“Milestone and Arcules have a strong existing partnership and a common DNA,” said Thomas Jensen, CEO of Milestone Systems.
“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.”
Andreas Pettersson, CEO of Arcules, added: “We are excited to rejoin Milestone, a global leader and trusted partner.
“This merger will accelerate our growth and innovation, delivering greater value to our customers and partners.
“Together, we are committed to realizing our vision of empowering people, businesses, and societies through intelligent video solutions.”
The merger is scheduled to be finalized by the end of the year.