Imaging technology producer Canon agreed on Wednesday to acquire Israel-based video analytics technology provider BriefCam, in a deal that will enable communications equipment maker Motorola Solutions to exit.
Financial terms have not been revealed and the deal is subject to customary closing conditions. The company had revealed $9.1m in funding since 2007 when it was spun out of Hebrew University of Jerusalem.
BriefCam has developed a platform called Video Synopsis that extracts quantitative information from videos. It detects potential threats and is aimed at law enforcement and other clients, such as governments, that have a need for security surveillance.
The company’s technology will be added to Canon’s Network Video Solutions product portfolio. Canon will support the company’s expansion into additional markets and verticals, and has committed to maintaining its open platform, allowing it to still be integrated with third-party products.
BriefCam secured $6.5m in a 2013 round led by Motorola Solutions’ corporate venturing unit, Motorola Solutions Venture Capital, having already raised $2.6m in a series A round led by Aviv Venture Capital, with participation from assorted angel investors in 2009.
Trevor Matz, BriefCam’s president and CEO, said: “The acquisition will allow BriefCam to continue to deliver industry leading video content analytics solutions, while remaining a standalone company within Canon.
“The opportunity is a testament to the innovative technology we have built, the outstanding team we have assembled and the rapidly growing business we have created.”
– The original version of this article appeared on our sister site, Global University Venturing.