Canon Buys Hebrew U-Developed Video Solutions Company BriefCam

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Norwegian investigators used BriefCam video synopsis technology to help them catch a bombing suspect.
Norwegian investigators used BriefCam video synopsis technology to help them catch a bombing suspect.

May 09, 2018

Today, the Japanese giant, Canon Inc., announced its acquisition of BriefCam, the industry’s leading provider of Video Synopsis® solutions, based on technology developed at the Hebrew University of Jerusalem. The acquisition demonstrates the dynamism of the Hebrew University of Jerusalem’s research and innovation and comes on the heels of other high-profile startup exits whose technologies were based on research conducted at Hebrew University and licensed through its technology transfer company, Yissum.

BriefCam turns video surveillance into actionable intelligence and dramatically shortens the time-to-target for security threats while increasing safety and optimizing operations. Its remarkable technology was developed by co-founder and Chief Scientist, Professor Shmuel Peleg, from the Hebrew University’s School of Computer Science and Engineering.

“With the acquisition of BriefCam we are once again witnessing the incredible global and commercial value of the cutting-edge research at the Hebrew University,” said Dr. Yaron Daniely, President and CEO of Yissum. “We are proud to be the bridge between the researchers and industry that facilitates innovation to reach and succeed in the marketplace.”

BriefCam has been deployed by law enforcement and companies around the world. In 2013, BriefCam played an integral role in capturing the suspects of the Boston Marathon bombings. Massachusetts Governor, Deval Patrick, offered his gratitude to BriefCam in a letter noting, “BriefCam played an important role in helping law enforcement officers identify and ultimately locate the suspected terrorists. In the days following the Boston Marathon bombings, thousands of photographs and videos, many taken with cell phones, were provided to law enforcement officers. Utilizing software developed by BriefCam, law enforcement officers and investigators were able to quickly review the photographs and videos and locate images of the two suspected terrorists. Undoubtedly, your company and its analytical product greatly facilitated the relatively speedy capture of one terrorist and the death of the other.”

“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 the Canon Group,” said Trevor Matz, BriefCam president and CEO.

No financial details about the deal were disclosed but sources say  that Canon is paying $90 million for BriefCam, a handsome return on a company that has raised $15.6 million to date, according to IVC. Investors include Motorola Solutions Venture Capital, Aviv Venture Capital and OurCrowd.

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CFHU is dedicated to supporting IMRIC through direct funding and by developing key collaborative medical research partnerships between Canada
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