Camera manufacturer Canon, Tokyo, is seeking to expand even further into the security market, with a $2.8 billion cash offer to purchase Axis Communications, Lund, Sweden. After acquiring major VMS provider, Milestone, last summer, Canon’s foray into video surveillance is helping it build a solid platform of cameras and video management technology to create a total security solution for its customers.
According to a news report from Reuters, there is a $3.86 billion segment for network-connected security cameras, which is led by Axis with a 17.5 percent share as of 2013.