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Canon aims for leadership in the US$ 15 billion global video surveillance market
Canon offers 50% premium on Axis Aktiebolag share price of Monday Feb 9, 2015
On February 10, 2015, Canon launched a public offer with a total value of about SEK 23.6 billion (US$ 2.8 billion) to acquire all outstanding shares of the Swedish surveillance video company Axis Aktiebolag. The public offer will start on March 3, 2015, and is expected to end on April 1, 2015.
Canon aims for leadership in the global video surveillance market
With this acquisition (if successful), Canon is aiming to become a global leader in the video surveillance market, which is estimated to be about US$ 15 billion globally.
Axis to remain independent entity with current management
Under the applicable Takeover Rules, Axis Board of Directors needs to express an opinion on the impact of the potential takeover on employment, on Canon’s strategic plans, and the impact of these strategic plans on employment and the communities in which Axis does business.
Axis Board of Directors declared Canon’s intention to keep Axis AB as an independent entity under the current management, and continuing the current company culture, and to retain the Axis brand name.
Axis Board of Directors’ statement of February 10, 2015 can be found here on the Axis website.
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