Cisco Acquires Modcam To Boost Meraki's Machine-Learning Game

Cisco Systems is about to inject more intelligence into its Meraki smart camera portfolio. The tech giant on Friday announced that it has acquired Swedish video analytics provider Modcam for an undisclosed sum. The deal, which already closed, will make Cisco's MV smart security camera line "even smarter," said Chris Stori, senior vice president and general manager of Cisco's Meraki business, in a blog post. "Less than 1 percent of the video our MV smart cameras capture is actually watched. One of the questions we ask ourselves is, how do we extract value from the 99% that no one ever sees? In acquiring Modcam, Cisco is investing in a team of highly talented engineers who bring a wealth of expertise in machine learning, computer vision and cloud-managed cameras," Stori said on the deal.