Milestone Systems and Arcules to reunite in merger

COPENHAGEN, Denmark, and IRVINE, Calif. — Global video technology company Milestone Systems has announced that it will merge with cloud-based video surveillance solutions provider Arcules, effective July 1, 2024.Based in Irvine, California, Arcules was spun out from Milestone in 2017. Now, following that split from each other, the companies say that the merger brings together Milestone and Arcules' capabilities within video management software (VMS), video analytics and video surveillance as a service (VSaaS), providing a complete video technology offering.In a release, Milestone stated that the VSaas market is predicted to experience exponential growth within the following years, while at the same time artificial intelligence (AI) is creating new possibilities. By adding Arcules to Milestone's product line, the company said it is optimally positioned to lead the video technology software industry.“With the rise of Al, we have the potential to derive insights from video data and support decision intelligence,” the release said. “The merger offers unparalleled ability to exploit the rapidly changing Al landscape from on prem to cloud and both Milestone and Arcules 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. 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,” Thomas Jensen, CEO of Milestone Systems, said. “As one company, we will shape the future of open-platform video technology.""We are excited to rejoin Milestone, a global leader and trusted partner,” Arcules CEO Andreas Pettersson said. “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.