Milestone Systems
 | |
| Subsidiary | |
| Industry | Computer software |
| Founded | 1998 |
| Headquarters | Copenhagen, Denmark |
Key people |
Lars Thinggaard, President & CEO John Blem, CTO & Founder Henrik Friborg Jacobsen, VP & Founder Lars Larsen, CFO Jesper Balser, Chairman |
| Revenue | DKK 407 million (2013)[1] |
| DKK 90 million (2013)[1] | |
| DKK 34 million (2013)[1] | |
Number of employees | 389 (2013) |
| Parent | Canon Inc |
| Website |
www |
Milestone Systems A/S is a software manufacturer of open platform IP video surveillance software marketed under the name of XProtect® and embedded surveillance platform, Milestone ArcusTM.
Milestone has an installed base of more than 100,000 customer installations, with many reference stories available on the website as examples. XProtect video management software is sold through authorized and certified partners in 115 countries.
With headquarters in Denmark, Milestone also has subsidiaries and sales offices in USA, UK, Australia, Brazil, Bulgaria, UAE, France, Germany, Italy, Japan, Spain, and Singapore. Milestone has been self funded since its inception in 1998. In August 2008 the company received external funding through a growth fund of Index Ventures to establish additional financial strength to utilize more opportunities of the fast-growing IP video surveillance market.
History
Milestone Systems was founded in 1998 upon a dream to build a software development company that could improve business through managing and distributing digital video data regardless of time or location. Co-founders Henrik Friborg and John Blem saw that their experience in developing IP technology for real-time data systems in the European financial sector could also be applied to the handling of video images.[2] At that time, digital video technology was not in use in the security surveillance industry. Milestone had to overcome much scepticism in the market about their pioneering ideas: people doubted their vision would revolutionize the industry. These people were in for a big surprise. The security market back then was mainly operating with proprietary analogue equipment, and the digital share of sales grew slowly at first. This gradual pace allowed Milestone to grow organically, without the need for external funding. From the beginning and throughout its maturing phases, the company has stayed independent and entirely self-funded with very healthy growth rates. To fuel the commercial development of the organization, more like-minded professionals were hired: CEO Lars Thinggaard and a sales team of account managers, top software system architects, expert support staff, marketing and technical documentation talent.[3] In August 2008 the company received external funding through a growth fund of Index Ventures to establish additional financial strength to utilize more opportunities of the fast-growing IP video surveillance market. .[4]
On July 2010, Milestone Systems invested in a partnership with Connex International, Inc to deliver training and certification services to the expanding global partner channel. .[5] After three years on November 2013 the company acquired the surveillance training, certification and consulting company Connex International, Inc, based out of Minneapolis, Minnesota by purchasing all outstanding shares. Milestone was already a majority stakeholder in Connex from the initial investment. .[6]
Canon acquisition
On June 2014, Canon Inc acquires Milestone Systems to make major advance in network video surveillance business.[7] Canon has a clear ambition to drive future growth through diversification and has identified network video surveillance as a strategic new business area. Bringing Milestone into the Canon Group will significantly enhance Canon’s software capabilities in this sector.[8]
References
- ↑ 1.0 1.1 1.2 "Annual results, Milestone Systems: January 1 – December 31, 2013". Retrieved 2014-04-25.
- ↑ "Milestone Systems Sets Standards in Open Platform IP Video Surveillance". Retrieved 28 July 2007.
- ↑ "Securityworldmag Interview "Our business has really taken off around the globe."". Retrieved 28 July 2007.
- ↑ "Milestone Systems Receives US$27 Million in Growth Stage Investment From Index Ventures". Retrieved 10 August 2008.
- ↑ "Milestone Invests in a New Partnership: Connex International, Inc". Retrieved 6 July 2010.
- ↑ "Milestone Systems acquires Connex International, Inc". Retrieved 4 November 2013.
- ↑ "Canon Acquires Milestone to Make Major Advance in Network Video Surveillance Business". 13 June 2014. Retrieved 13 June 2014.
- ↑ "Canon Acquires Milestone to Make Major Advance in Network Video Surveillance Business". 13 June 2014. Retrieved 13 June 2014.