Axis Unanimously Accepts Bid from Canon

  • Feb 10, 2015

A deal between Canon and Axis has been agreed upon, making this Canon’s second major acquisition in the security space in less than 12 months after agreeing to buy Milestone Systems shortly before IFSEC International 2014.

Long a stellar name in the consumer camera world the Japanese giant has struggled to break into the surveillance market.

Speaking to FSEC Global last year the company’s product strategy and planning director admitted that Canon’s market share was probably less than half a percent.

But the acquisition of Axis – the world’s eighth biggest security company according to the 2013 asmag Top 50 (and star of this IFSEC Innovators video)– will propel the company into the global big league alongside the likes of Samsung Techwin, Tyco Security Products and Hikvision.

Buying the Swedish surveillance pioneers, which launched the world’s first-ever network camera in 1996,  gives it a serious foothold in a global surveillance market expected to be worth £27.6bn by 2020.

And not just in surveillance; the value of Axis’ stock has soared 14% this year following the company’s first foray into the access control market.

A statement from the board of directors at Axis said that Roland Vejdemo, chairman of the board of directors, was “of the following opinion […] Axis has a potential for an accelerated growth that could create a greater value than the Offer and thus be of interest for investors with a long-term perspective.

“However, he is of the opinion that the current stand-alone plan would not lead to a greater value than Canon’s offer in a long-term perspective. New future scenarios, including acquisition strategies, which the Board of Directors, together with its financial advisors, have modeled to assess the opportunities for Axis to achieve a greater value than Canon’s offer, includes too many and great risks.

“Roland Vejdemo has also, among other, taken into account the advice of the financial advisor of the Board of Directors when forming his opinion. Therefore, he recommends for shareholders to accept the offer from Canon also in a longer term perspective.”

Canon’s offer, which comprises an agreement to buy Axis shares at 340 kronor each in cash (nearly 50% more than the stock’s closing price on Monday), is conditional to a dividend that Axis intends to pay its shareholders.

Revenue from Canon’s traditional camera business has fallen for the last three consecutive years, although this has been offset to some extent by rising sales of printers, peripherals and other office products.

Featured

  • Cost: Reactive vs. Proactive Security

    Security breaches often happen despite the availability of tools to prevent them. To combat this problem, the industry is shifting from reactive correction to proactive protection. This article will examine why so many security leaders have realized they must “lead before the breach” – not after. Read Now

  • Achieving Clear Audio

    In today’s ever-changing world of security and risk management, effective communication via an intercom and door entry communication system is a critical communication tool to keep a facility’s staff, visitors and vendors safe. Read Now

  • Beyond Apps: Access Control for Today’s Residents

    The modern resident lives in an app-saturated world. From banking to grocery delivery, fitness tracking to ridesharing, nearly every service demands another download. But when it comes to accessing the place you live, most people do not want to clutter their phone with yet another app, especially if its only purpose is to open a door. Read Now

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

  • AI Used as Part of Sophisticated Espionage Campaign

    A cybersecurity inflection point has been reached in which AI models has become genuinely useful in cybersecurity operation. But to no surprise, they can used for both good works and ill will. Systemic evaluations show cyber capabilities double in six months, and they have been tracking real-world cyberattacks showing how malicious actors were using AI capabilities. These capabilities were predicted and are expected to evolve, but what stood out for researchers was how quickly they have done so, at scale. Read Now

Most   Popular

New Products

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction.