Canon offers to aquire Axis for $ 2.8 Billion

Canon offers to aquire Axis for $ 2.8 Billion

Canon offers to aquire Axis for $ 2.8 Billion

Canon of Japan announced on Tuesday offer to buy Axis, the Swedish security camera maker, for 23.8 billion Swedish kronor ( $ 2.8 Billion ), in cash deal.

 Under the terms of the proposal, Canon has offered 340 kronor for Axis share, it is 49.8 percent premium to Axis’ closing price on Monday.

 Axis shares increased up 48 percent to 336.1 kronor in trading Tuesday’s price in Stockholm.

 “In recent years, the video surveillance system market has continued to realize rapid growth,” Canon said in a news release. “Canon views its network surveillance camera business as a promising new business area and positions the business as a driving force for future growth.”

 Axis’ board of directors has recommended to accept the offer by shareholders. Three largest shareholders, which hold about 39.5 percent of its shares, had agreed to accept the offer.

 Axis was founded in 1984, which is based in Lund, Sweden. Canon was founded in 1937, which is based in Tokyo, Japan.

 The deal is subject to regulatory approval.

Mr. Stakebay says:

Canon expects combination its imaging and optical technologies with Axis’ video imgaing technology and processing equipment for security networks. The deal boost Canon’s intellecutal property portfolio.

CANON

AXIS

Revenue

$ 35.536 billion (2013)

$ 652. 72 Million (2014)

Operating income

$ 3.212 billion (2013)

$ 85.71 Million (2014)

Profit

$ 2.195 billion (2013)

$ 64.61 Million (2014)

Total assets

 $ 40.406 billion (2013)

$ 264.51 Million (2014)

Total Equity

$ 27.716 billion (2013)

$ 131.57 Million (2014)

Employees

 194 151 (2013)

1 797 (2014)

Chairman and CEO of Canon inc………………………… FUJIO MITARI……..1995-present…..$ 9 278 685 (2013)

President and CEO of Axis Communications inc……. RAY MAURITSSON…. 1995-present…….$ 778 628 (2013)

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