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Japanese multinational Canon has once again taken a leap, qualitative and quantitative, in the network security market with the acquisition of the Swedish specialist and inventor of the first IP camera on the market, Axis Communications, whose board of directors has recommended to its shareholders to accept this juicy offer, encrypted in 2.499 millions of euros.

Axis P14 series

The offer to buy Canon to the Swedish Axis Communications is located in 2.499 millions of euros (around 23.617 millions of Swedish kronor), positively valued and recommended to its shareholders by the latter's board of directors, according to the statement distributed by this company.

This powerful canon business acquisition in the network security environment, months after another important business action in this environment, with the purchase of the Danish multinational Milestone Systems, provider of open platform video management software that is used in thousands of installations around the world (view information at Digital Security Magazine), not only does it show Japan's clear strategy for rapidly strengthening its presence in this growing market, but places her as a technology leader who adds to her expertise in the image and video environment, next-generation IP systems and powerful management software (Cms).

That's what it reflected. (and is materializing effectively in the last year), the so-called global excellence plan that Canon launched in 2011, aiming to rank in the top hundred of the best global companies with the development of profitable new businesses and future growth, as in the case of network video surveillance.

Unanime Recommendation

Axis Medellin projectIn the statement distributed by Axis Communications, your board of directors (including the company's founding partners: Martin Gren, Mikael Karlsson and Keith Bloodworth; those who hold the 39,5% capital) has unanimously recommended to its shareholders to accept Canon's public offering, as well as participating in this operation, subject to various conditions.

Axis' Board of Directors has proposed a dividend of 6 Swedish kronor per share, with the date of registration of the 25 March 2015, that if accepted by your general meeting, the offer would be adjusted 334 Swedish kronor per share.

The deadline for acceptance of such an offer is expected to begin next 3 March and expires on 1 April 2015, conditioned that, among other terms, accepted by the authorities for Canon to become the owner of more than 90% of the Swedish company's capital.

Canon Europe headquartersFor the evaluation of the offer, Axis Board of Directors has hired Morgan Stanley as financial adviser, along with Gernandt's legal support & Danielsson AdvokatbyrTM KB, completed with a valuation report (so-called fairness opinion) performed by Deloitte by instruction of the company's board of directors.

Under the terms of the acquisition and once completed and authorized the same, Axis will become an independent legal entity of the Canon group, keeping your brand in the market, as well as its current management team at its Lund headquarters, development centres in Europe and sales offices.

Pioneer in IP security

Axis Martin Gren founderSince in the year 1996 this Swedish multinational to launch the world's first network video camera, that started a process of technological convergence in this industry, Swedish Axis Communications has been perfecting its technology to meet the needs of different sectors and extend their capabilities beyond surveillance, integrating the information it generates into organizations' systems to not only detect events but prevent them and, Also, use them in other areas of management other than security.

This strategy has placed the company at the forefront of EMEA's ranking of network video surveillance equipment manufacturers. According to the latest IHS CCTV Video Surveillance Equipment World report, Axis ranks first in security camera rankings (both IP and analog), IP video cameras and video encoders.

Founded in 1984 by Martin Gren (pictured), Mikael Karlsson and Keith Bloodworth, the company bases its growth on technological innovation, creating an ecosystem of partners and developers (65.000 globally), alongside a growing distribution channel (around 75.000 partners around the world) with which he is strongly committed.

Axis A1001Thanks to these three business pillars, the company entered late last year 577 millions of euros (5.450 millions of Swedish kronor), which is an increase in the number of 15% compared to the previous year. This same growth has also been reflected in its human resources, with a total of 1.627 employees distributed in the 49 countries where it is present, as well as in an investment of the 15% in R&D&I.

Present in Spain for sixteen years, Axis Communications' Iberian subsidiary has followed the same upward trajectory as the corporation in the national network security market, which has now expanded with the company's official entry into the physical access control segment.

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By • 10 Feb, 2015
• Section: Access control, MAIN HIGHLIGHT, Business, Video surveillance