Panasonic creates new company for its security business
06 June 2019
PANASONIC HAS announced that it is to establish a new company to operate its security systems business.
The Security Systems Business Division, which is part of Panasonic’s Connected Solutions Company, has a roughly 60-year history of developing security cameras and advanced edge devices and combining these with unique software such as facial recognition to meet the needs of the market, and has established itself as a top brand in the Japanese security camera market.
With rising global demand for security and safety, the security related business is a field that is forecast for growth; and by establishing the new company and concluding a co-investment agreement with Polaris, Panasonic believes that it can achieve stable growth in this market.
Panasonic says that the new company will be able to utilize Polaris’ knowledge and experience cultivated from numerous investments into manufacturers and other large-scale enterprises. It will build on the strengths of the Division while benefitting from management and resources of Polaris to seamlessly implement the necessary structure to operate as an independent organization. Strengthening its solutions capabilities with proactive alliances and M&As, the new company will aim to enhance its revenue and profitability globally centered on the North American market. With new and next-generation products and services, and a strategic growth plan to expand sales of medical camera modules, the new company will build a solid foundation as an independent entity with a potential public offering in the future.