PANASONIC TO TRANSFER ITS SECURITY & INDUSTRIAL MEDICAL VISION BUSINESSES INTO A NEW COMPANY ‘I-PRO EMEA’
Bracknell, UK. 1st July 2021 – Panasonic Europe B.V. and Panasonic System Communications Company Europe (PSCEU) today announced the transfer of its shares of its European Security and Industrial Medical Vision (IMV) businesses, currently part of PSCEU, into a newly founded independent company, i-PRO EMEA B.V. (i-PRO EMEA). The new company will formally start its operations from 1 October 2021, and will be part of the Japan-based Panasonic i-PRO Sensing Solutions Co., Ltd. (PIPS).
1. History and Background
The Security and IMV businesses which are part of Panasonic’s Connected Solutions Company has a successful history of around 60 years developing security and medical equipment. Building on innovation and technology leadership to correspond to the needs and requirements of the market by offering outstanding image quality as well as product reliability, the business is an established and leading player in the European market.
As the strategic focus of PSCEU changes, Panasonic and PIPS decided to transfer the business and establish a new company called i-PRO EMEA, aiming to expand and build upon the legacy that Panasonic has built over the last 60 years. Globally this transfer process started back in 2019, when the Japanese and U.S. businesses were transferred.
2. Looking ahead
“Panasonic has been growing the Security and IMV Businesses with its partners substantially in Europe. We are very grateful for the close and successful collaboration with our partners. I’m really thankful for the successful establishment of the Security and IMV Businesses which has only been possible due to such a strong partner network.
As PSCEU has started to change its strategic direction as part of a global change, we have been looking for a partner company which would successfully continue our Security and IMV businesses, and leverage it according to the requirements of today’s 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 & CEO of Panasonic i-PRO Sensing Solutions Co., Ltd. "We have been developing and delivering products that incorporate various innovations to our customers by 'Extending human senses through technology, to capture moments of truth so the front-line pros can act' as the purpose for our existence in society. In order to realise the 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."
i-PRO EMEA will be headquartered in Amsterdam and start operations as of 1st October 2021. As business contacts remain in the transition from Panasonic to i-PRO EMEA, daily operations will continue as usual.