From a culture point of view, you have to think merging Milestone and Axis together would be easier than other companies being they are so geographically close and business-wise have talked about the benefit of their proximity for years.
That, coupled with Canon's relative familiarity in aqcuisitions in many markets means they aren't n00bs in making this happen. Shedding redundancy is a critical part of competition and seems like 'low-hanging fruit' in making these deals profitable.
Under that metric, Cisco is the biggest with a market cap of ~$145 billion.
It is a misleading metric to use for 'largest surveillance system company in the world' but it still does not make Canon largest.
I genuinely wonder if Canon's CEO has any idea what is really going on with the video surveillance market and Hikvision / Dahua's expansion. If he did, why did he overpay so much for Axis and Milestone?
Canon has repeatedly and clearly declared that Milestone and Axis will remain independent.
And maybe they will remain independent... of each other.
But neither is independent of Canon. So there is another possibility here. Perhaps Fujio's endgame is to build-up Canon security on the shoulders of these two giants?
Ultimately, ending up with Milestone and Axis being reduced to R&D or high-end niche arms of the invigorated Canon security.
How? Let Axis and Milestone do what they do on their own, if they are profitable, great. Regardless, pick thru any and all technologies, innovations in progress, business plans, customer data, demographics.
Like a Vampire. Brain Drain. Technology Transfer. Ring around the Rolodex.
Sounds crazy? Well consider the fact that Canon Security shows no signs of shutting down their IP camera division, to the contrary:
TOKYO, September 2, 2015 - Canon Inc. announced today that the Company is developing a high-sensitivity network camera equipped with a fast high-magnification lens capable of long- range colour image capture even in extremely low light conditions, making possible the viewing of subjects that the naked eye would have trouble discerning. This new camera will totally revolutionise low light surveillance and again show the world why Canon is a global leader in IP Network cameras.
Remember for these deals to make any sense for a company Canon's size, they have to be expecting huge growth in this market. They are not looking for a couple of small companies to own that will make a buck or two.