In the second major acquisition announced this week for an Israeli company, Modi’in-based BriefCam — maker of widely used rapid video review, search and analysis technology — revealed its upcoming acquisition by Tokyo-based Canon, a world leader in digital imaging solutions.
“We are thrilled to be joining forces with a global leader in digital imaging. The acquisition will allow BriefCam to continue to deliver industry-leading video content analytics solutions, while remaining a standalone company within the Canon Group,” said Trevor Matz, BriefCam president and CEO.
Masanori Yamada from Canon’s Network Visual Solution Business Promotion Headquarters added, “With BriefCam, we can deliver an even broader range of leading-edge technology and solutions in the fields of network cameras, video management software and video content analysis software to customers and partners across the globe. We are very excited to work with such an innovative organization.”
The financial details of the not-yet-completed BriefCam transaction have not been disclosed. Earlier this week, International Flavors & Fragrances of New York announced its planned acquisition of Frutarom of Haifa in a cash-and-stock transaction valued at approximately $7.1 billion.
BriefCam was founded in 2007 by Prof. Shmuel Peleg, Gideon Ben-Zvi and Yaron Caspi based on video synopsis technology developed at the Hebrew University of Jerusalem for transforming raw video into actionable intelligence. The company has branches in Massachusetts, Connecticut and Singapore.
BriefCam’s award-winning products are deployed worldwide and have been used at major venues such as the Statue of Liberty and the 2016 Rio Olympics. Its video technology reportedly helped identify the Boston Marathon terrorist in 2013.