Canon to increase its ownership in Axis
Axis majority owner Canon today announced a share purchase agreement that will result in Canon holding almost 98 percent of the shares in Axis AB. Canon intends to apply for delisting of Axis from the Nasdaq Stockholm. Axis will remain an independent entity within the Canon Group.
"Considering that Canon at the time of their public offering in 2015 expressed an ambition of acquiring all shares in Axis, this was expected to happen at some point. We do not expect this to change daily operations at Axis. Canon has underlined that Axis will continue to be run as an independent company. At the same time, we believe it’s very positive to be part of the Canon Group," says Ray Mauritsson, CEO of Axis.
Canon made the share purchase agreement with Elliott International, L.P. and The Liverpool Limited Partnership. Canon has agreed to purchase 7,825,516 shares in Axis at SEK 363.75 per share. As a result of the transaction, Canon will hold 97,9 percent of the shares in Axis and intends to request that the Axis Board resolves to apply for delisting of Axis shares from the Nasdaq Stockholm. Canon also intends to initiate a compulsory acquisition procedure under the Swedish Companies Act to acquire all remaining shares in Axis.
See the press release issued by Canon for further information.
For further information, please contact:
Björn Hallerborn, PR & Corporate Communications Manager
Phone: 46 46 272 18 00
About Axis Communications
Axis enables a smarter and safer world by creating network solutions that provide insights for improving security and new ways of doing business. As the industry leader in network video, Axis offers products and services for video surveillance and analytics, access control, and audio systems. Axis has more than 3,000 dedicated employees in over 50 countries and collaborates with partners worldwide to deliver customer solutions. Founded in 1984, Axis is a Sweden-based company listed on the NASDAQ Stockholm under the ticker AXIS. For more information about Axis, please visit our website www.axis.com.