May 9, 2018 | Canon is set to acquire Israel-based video analysis software company BriefCam for an undisclosed amount in a stock purchase agreement, the companies announced on Wednesday. The Japanese multinational said in a statement that the acquisition was part of a five-year initiative launched two years ago “to embrace the challenge of new growth through a grand strategic transformation that entails reinforcing existing businesses as well as strengthening and expanding new business.” Canon said BriefCam would continue to operate under its current leadership structure and through its own sales channels. BriefCam President and CEO Trevor Matz said in a statement that the Modiin-based company was “thrilled to be joining forces with a global leader in digital imaging,” and that the acquisition would “allow BriefCam to continue to deliver industry-leading video content analytics solutions, while remaining a standalone company within the Canon Group. 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.” Masanori Yamada, Canon Inc. Managing Executive Officer and Group Executive, Network Visual Solution Business Promotion Headquarters, said, “with BriefCam, we can deliver an even broader range of leading-edge technology and solutions in the fields of network cameras, video management software and video content analysis software to customers and partners across the globe. We are very excited to work with such an innovative organization and we welcome BriefCam into the Canon Group.” Founded in 2007 by Prof. Shmuel Peleg, Mr. Gideon Ben-Zvi and Dr. Yaron Caspi, BriefCam developed video analysis software called Video Synopsis which allows “investigators to review hours of video in minutes and rapidly pinpoint people and objects of interest.” Users can search through the synopsized video using such filters as object size, speed, direction and color, facilitating instant access to the images they wish to review. BriefCam says its technology is already in use in over 40 countries and regions in law enforcement and public safety organizations, government and transportation agencies, major enterprises, healthcare and educational institutions, and local communities. In 2013, BriefCam’s technology helped the FBI identify the Tsarnaev brothers in the Boston Marathon bombings that year in the surveillance videos.