The tender offer is worth about ¥333 billion (US$2.8 billion) and has been approved by the three largest shareholders in Axis, Canon said Tuesday.
Canon already makes its own security cameras, but with Axis it will gain a broad range of IP-based video surveillance products and an open application platform for third-party app development.
Cameras make up nearly 40 percent of Canon's sales, but as smartphones have damped sales of digital compact cameras, the company has pushed into medical equipment and network cameras.
Axis's network image processing technologies will enhance Canon's own offerings, it said. Meanwhile, Canon's optics technology, such as the 50-megapixel sensor in the new 5DS digital SLR could benefit the Axis lineup.
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