BriefCam, a spinout from Hebrew University, has agreed to be acquired by Canon for an undisclosed amount, providing an exit to investors including Motorola.
BriefCam, an Israel-based video analytics technology spinout from Hebrew University of Jerusalem, agreed to an acquisition by camera and imaging technology producer Canon on Wednesday.
Financial terms have not been revealed. The deal is subject to customary closing conditions.
Founded in 2007, BriefCam has developed technology, dubbed Video Synopsis, to extract quantitative information from videos. The platform detects potential threats and is aimed at law enforcement and other clients, such as governments, that have a need for security surveillance.
The spinout was co-founded by Shmuel Peleg, professor of computer science at Hebrew University, with Gideon Ben-Zvi, venture partner at Aviv Venture Capital, and Yaron Caspi, previously a consultant at chipmaker Intel.
BriefCam’s technology will be added to Canon’s Network Video Solutions product portfolio. Canon will invest further in the technology and support BriefCam’s expansion into additional markets and verticals.
Canon has committed to maintaining BriefCam’s open platform so that it can continue to be integrated with third-party products.
BriefCam obtained $6.5m in a funding round led by Motorola Solutions Venture Capital, the corporate venturing unit of telecoms equipment producer Motorola Solutions, in 2013. It had already raised $2.6m in a series A round led by Aviv, with participation from assorted angel investors in 2009.
Trevor Matz, president and chief executive of BriefCam, said: “We are thrilled to be joining forces with a global leader in digital imaging. 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.”
