Canon Europa N.V. and Milestone Systems A/S of Denmark are merging their technological expertise for the network video surveillance market.

Canon said the combining of its image products and Milestone's open platform video management software is coming under acquisition of the Danish company.

Financial and other terms of the transaction, however, were not disclosed but Milestone will remain a stand-alone entity within the Canon group.

"Canon is aiming to take a leadership position in network video surveillance and we are making an important strategic investment ... to realize our objective to expand in this market," said Rokus van Iperen, president and chief executive officer of Canon Europe, Middle East and Africa. "Together with Milestone, we can accelerate our growth by delivering new advanced products and solutions for new sectors, through new channels, to offer greater customer value.

Milestone, as part of the Canon Group, will be able to accelerate its business and development of new products and also expand its global market presence, Canon said.