Milestone Systems records $101m revenue in 2016

The Denmark-headquartered video management software firm's invoiced revenues for the year amount to $115m

Milestone Systems' XProtect Essential [image:].
Milestone Systems' XProtect Essential [image:].

Milestone Systems, an open platform networked video management software (VMS) company, recorded an 18% hike in annual revenues for 2016.

The Denmark-headquartered firm has regional offices in the UAE, Saudi Arabia, and Lebanon.

Invoiced revenues worth $115.2m (EUR108m) were recorded by the company in 2016, with net revenues amounting to $101.3m (EUR95m). 

The latter is 18% higher than 2015's $86.3m (EUR80.9m).

Milestone's clientele in 2016 included Hyatt Hotels and Stockholm Metro. 

Remarking on the financial performance, company president and CEO Lars Thinggaard, said: "The reasons for our growth stem from our strong community of partners and customers, open platform technology, and investments in innovation and new technologies.

"We aim to continue this co-creation approach with our community and will keep investing in innovation in the years to come." 

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