TOKYO: Canon Inc Chief Executive Fujio Mitarai said the company had both the funds and willingness for more acquisitions this year, even after a planned 23.6 billion-Swedish-crown ($2.8 billion) takeover of network video surveillance leader Axis AB.
Asked about Canon's offer for Axis, which represented a premium of nearly 50 percent to the share price prior to the announcement, Mitarai said he was only interested in acquiring quality companies.
"I only buy good companies, even if they're expensive," he told Reuters in an interview on Tuesday.
The Axis deal, Canon's biggest purchase ever, marks a push by the Japanese company to expand beyond a shrinking camera market. Mitarai has been leading efforts to find higher-growth businesses that also take advantage of its photo-related expertise.
Comments
Comments are closed.