Panasonic to Shift its Security and Industrial Medical Vision Business to a New Company
The new firm will begin operations on October 1, 2021, and will be a Panasonic i-PRO Sensing Solutions (PIPS) subsidiary based in Japan.
FREMONT, CA: Panasonic Europe B.V. and Panasonic System Communications Company Europe (PSCEU) recently announced that its European Security and Industrial Medical Vision (IMV) businesses, which are now part of PSCEU, will be transferred to i-PRO EMEA B.V. (i-PRO EMEA), a newly formed independent company.
History and Background
Panasonic’s Connected Solutions Company’s Security and IMV divisions have a strong 60-year history of developing security and medical equipment. The company is a well-established and leading participant in the European industry, relying on innovation and technical leadership to meet market needs and expectations by providing great image quality and product reliability. As PSCEU’s strategic focus shifts, Panasonic and PIPS decided to transfer the business and form a new company called i-PRO EMEA, to expand and build on Panasonic’s 60-year legacy.
“We have grown the European Security and IMV Businesses substantially thanks to the close and successful collaboration with our strong partner network and I would like to thank them for their ongoing support. Due to a global change in the strategic direction of PSCEU, we have been looking for a company to collaborate with that can successfully continue and develop our Security and IMV businesses to meet the future requirements of the market and customers. We think that PIPS is the best choice to lead this business into a flourishing future,” said Hiroyuki Nishiuma, Managing Director, PSCEU.
“We are very pleased to have established a new i-PRO site in Europe. Establishing i-PRO EMEA is a major step towards the further growth of i-PRO globally,” said Masato Nakao, Chairman of the Board and CEO of Panasonic i-PRO Sensing Solutions Co., Ltd. “We have been developing and delivering products to our customers that incorporate various innovations based on our vision to ‘Extend human senses through technology, to capture moments of truth so the front-line pros can act’. In order to realize our philosophy of The Power of Truth’, embodied in our company logo, we will continue to be flexible in our thinking, to be bold in our endeavors, and to be sincere in our initiatives.”