Canon Inc.
Acquisitions
11
Major Deals Covered
$9.0B
Disclosed Deal Value
Canon's largest disclosed acquisition here is Toshiba Medical Systems for $5.9B in 2016. This page covers 11 major deals from 2007 to 2026, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Tokki Corporation | 2007 | Undisclosed | Canon took a majority stake in Japanese vacuum-equipment maker Tokki, adding deposition technology for organic EL (OLED) displays. |
| Océ N.V. | 2010 | Undisclosed | Canon bought the Dutch printing company, in a deal valuing its shares at about $825 million (€730 million), to expand in high-speed production and wide-format printing. |
| Molecular Imprints | 2014 | Undisclosed | Canon acquired the Austin, Texas nanoimprint developer to secure core technology for semiconductor nanoimprint lithography. |
| Milestone Systems | 2014 | Undisclosed | Canon bought the Danish open-platform video management software company to build a network video business. |
| Axis Communications | 2015 | $2.8B | Canon bought the Swedish network camera maker, valued at about $2.8 billion, to lead in IP video surveillance. |
| Lifecake | 2015 | Undisclosed | Canon Europe acquired the UK photo-storage app for families. |
| Toshiba Medical Systems | 2016 | $5.9B | Canon paid ¥665.5 billion (about $5.9 billion) to enter diagnostic imaging at scale with CT, MRI, ultrasound and X-ray systems. |
| Kite | 2017 | Undisclosed | Canon Europe acquired the UK print-on-demand software platform. |
| BriefCam | 2018 | Undisclosed | Canon bought the Israeli video-analytics software company to add AI search and summary tools to its network video products. |
| Redlen Technologies | 2021 | $335.0M | Canon bought the Canadian maker of CZT semiconductor detector modules, in a deal reported at about $335 million, for photon-counting CT. |
| Canon Electronics (minority shares) | 2026 | Undisclosed | Canon launched a tender offer for the shares of listed subsidiary Canon Electronics it did not own, raising its stake to 87.94% in early 2026 ahead of a squeeze-out. |
2026
Canon launched a tender offer for the shares of listed subsidiary Canon Electronics it did not own, raising its stake to 87.94% in early 2026 ahead of a squeeze-out.
Canon Electronics, which builds small satellites, becomes wholly owned so Canon can grow a space business to ~$134 million (¥20 billion) or more of sales by 2030.
2021
$335M
Canon bought the Canadian maker of CZT semiconductor detector modules, in a deal reported at about $335 million, for photon-counting CT.
Redlen detectors are used in Canon Medical's photon-counting CT, one of three growth products named in Phase VII.
2018
Canon bought the Israeli video-analytics software company to add AI search and summary tools to its network video products.
BriefCam analytics are sold with Axis and Milestone products.
2017
Canon Europe acquired the UK print-on-demand software platform.
A small software purchase supporting photo printing services.
2016
$5.9B
Canon paid ¥665.5 billion (about $5.9 billion) to enter diagnostic imaging at scale with CT, MRI, ultrasound and X-ray systems.
Renamed Canon Medical Systems, it formed the Medical unit, which had ~$3.89 billion (¥580.6 billion) of sales in 2025.
Regulators in the EU and U.S. fined Canon for the two-step deal structure in 2019, and Canon took a ~$1.11 billion (¥165.1 billion) goodwill impairment on the medical business in 2024. Canon Medical's operations were merged into Canon Inc. on April 1, 2026.
2015
$2.8B
Canon bought the Swedish network camera maker, valued at about $2.8 billion, to lead in IP video surveillance.
Axis is the core of Canon's network camera business, which Canon cited as a driver of record Q2 2026 sales.
2015
Canon Europe acquired the UK photo-storage app for families.
A small consumer software purchase alongside the camera business.
2014
Canon acquired the Austin, Texas nanoimprint developer to secure core technology for semiconductor nanoimprint lithography.
Renamed Canon Nanotechnologies, it underpins the FPA-1200NZ2C nanoimprint system Canon launched in 2023.
2014
Canon bought the Danish open-platform video management software company to build a network video business.
Milestone software is sold alongside Axis cameras in Canon's network camera business, part of Imaging's ~$2.88 billion (¥429.4 billion) of network camera and related sales in 2025.
2010
Canon bought the Dutch printing company, in a deal valuing its shares at about $825 million (€730 million), to expand in high-speed production and wide-format printing.
Océ became Canon Production Printing, the base of Canon's production printing business, which had ~$2.93 billion (¥437.3 billion) of sales in 2025.
2007
Canon took a majority stake in Japanese vacuum-equipment maker Tokki, adding deposition technology for organic EL (OLED) displays.
Renamed Canon Tokki, it became a leading supplier of the evaporation systems used to make smartphone OLED panels and sits in Canon's Industrial unit.
Phase VII sets 2030 sales targets for each unit: Printing ~$18.8 billion (¥2.8 trillion) (about 2% a year), Imaging ~$8.98 billion (¥1.34 trillion) (5%), Medical ~$5.03 billion (¥750 billion) (5%) and Industrial ~$4.02 billion (¥600 billion) (10%). Growth products named in the plan are nanoimprint lithography, photon-counting CT and industrial printing equipment. Canon merged Canon Medical Systems' operations into Canon Inc. on April 1, 2026, is taking Canon Electronics private to build a space business worth ~$134 million (¥20 billion) or more in sales by 2030, and wants emerging markets such as India, Indonesia, Africa, the Middle East and Latin America to rise from 10% to 15% of sales. In Printing it plans to cut production staff by 30% and factory space by 40% by 2028 and to outsource hardware that needs no special technology.
Canon designs, builds and sells hardware, then earns recurring revenue from consumables, service contracts and software on the installed base. In 2025 the Printing Business Unit produced ~$16.7 billion (¥2,494.4 billion) of sales (54%), split between office multifunction devices (~$7.13 billion (¥1,063.7 billion)), prosumer laser and inkjet printers (~$6.66 billion (¥993.4 billion)) and production presses (~$2.93 billion (¥437.3 billion)); toner, ink and maintenance on machines already in the field account for much of that income. Imaging (~$7.07 billion (¥1,054.9 billion), 23%) covers EOS cameras and lenses (~$4.19 billion (¥625.5 billion)) plus network cameras and video software from Axis and Milestone (~$2.88 billion (¥429.4 billion)). Medical (~$3.89 billion (¥580.6 billion), 13%) sells CT, MRI, ultrasound and X-ray systems and service. Industrial (~$2.42 billion (¥361.1 billion), 8%) sells semiconductor and flat-panel lithography tools, Canon Tokki OLED deposition systems and sputtering equipment. Canon sells through regional companies such as Canon U.S.A., Canon Europe and Canon Marketing Japan, and spent ~$2.27 billion (¥339.3 billion), about 7.3% of sales, on R&D in 2025.
Toshiba Medical Systems, bought for ¥665.5 billion (about $5.9 billion) in December 2016 and renamed Canon Medical Systems.
In 2015, in a deal valuing the Swedish network camera maker at about $2.8 billion. Axis and Milestone form the core of Canon's network camera business.
To expand in production and wide-format printing. Canon acquired the Dutch company in 2010, valuing its shares at about $825 million (€730 million), and it now operates as Canon Production Printing.
By acquiring Molecular Imprints of Austin, Texas in 2014. Renamed Canon Nanotechnologies, it underpins the FPA-1200NZ2C system launched in 2023.
Yes. The European Commission fined Canon ~$31.6 million (€28 million) in 2019 for implementing the deal before approval through a two-step structure, and the EU General Court upheld the fine in 2022. In the U.S., Canon and Toshiba each paid a $2.5 million penalty.
Redlen Technologies, a Canadian maker of CZT detector modules for photon-counting CT, in 2021 in a deal reported at about $335 million.
Canon Tokki (acquired 2007), Milestone Systems (2014), BriefCam (2018) and Canon Marketing Japan, among others. In 2026 it raised its Canon Electronics stake to 87.94% through a tender offer ahead of full ownership.
Facing a severe decline in digital camera sales due to smartphones, Canon aggressively acquired Toshiba Medical Systems (for roughly $6 billion) and Axis Communications to massively pivot into healthcare and surveillance cameras.
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