Asia Express - Consumer Electronics
Canon to Acquire Video Surveillance Vendor Axis for US$2.8 Billion
February 11, 2015

Canon stroke a deal to buy the Swedish network video surveillance company Axis AB for around US$2.8 billion—the largest acquisition in Canon's history—as the Japanese company is trying to find new opportunities outside the traditional digital camera sales, reported Reuters on February 10. The two companies jointly developed network cameras in 2002, but sold the products from each brand. After the purchase, Axis will remain a separate legal entity in Canon, keeping its management team and workforce of 1,900 employees.