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

  • The Future is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reason. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. But as the number of cameras grows and resolutions push from HD to 4K and beyond, the cloud’s limits are becoming unavoidable. Bandwidth bottlenecks. Latency lags. Rising storage costs. These are not abstract concerns. Read Now

  • The Impact of Convergence Between IT and Physical Security

    For years, the worlds of physical security and information technology (IT) remained separate. While they shared common goals and interests, they often worked in silos. Read Now

  • Unlocking Trustworthy AI: Building Transparency in Security Governance

    In situations where AI supports important security tasks like leading investigations and detecting threats and anomalies, transparency is essential. When an incident occurs, investigators must trace the logic behind each automated response to confirm its validity or spot errors. Demanding interpretable AI turns opaque “black boxes” into accountable partners that enhance, rather than compromise, organizational defense. Read Now

  • Seeking Innovative Solutions

    Denial, Anger, Bargaining, Depression and Acceptance. You may recognize these terms as the “5 Phases” of a grieving process, but they could easily describe the phases one goes through before adopting any new or emerging innovation or technology, especially in a highly risk-averse industry like security. However, the desire for convenience in all aspects of modern life is finally beginning to turn the tide from old school hardware as the go-to towards more user-friendly, yet still secure, door solutions. Read Now

  • Where AI Meets Human Judgment

    Artificial intelligence is everywhere these days. It is driving business growth, shaping consumer experiences, and showing up in places most of us never imagined just a few years ago. Read Now

Most   Popular

New Products

  • 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.

  • AC Nio

    AC Nio

    Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions.

  • EasyGate SPT and SPD

    EasyGate SPT SPD

    Security solutions do not have to be ordinary, let alone unattractive. Having renewed their best-selling speed gates, Cominfo has once again demonstrated their Art of Security philosophy in practice — and confirmed their position as an industry-leading manufacturers of premium speed gates and turnstiles.