iON Cameras and Contour announced an agreement in principle to merge the two companies. The combined organization brings together assets of Contour—a pioneer and innovator in the point-of-view (POV) camera industry that holds critical patents and has a strong international brand—with those of iON Cameras, which brings expertise in engineering and manufacturing, a rapidly increasing line of wireless and wearable cameras, and impressive and growing North American retail distribution.
Industry research firm IDC estimates that POV camera sales will exceed $2.9 billion by 2018, but this is just one of the categories that the combined organization will be focusing on. The overall addressable market for wearable and connected cameras is expected to be many times larger.
iON Cameras CEO and Founder Giovanni Tomaselli will serve as the new company’s CEO. Contour’s current CEO James Harrison will assume the role of president.
The Contour and iON brands will co-exist, and together will offer a full range of connected and wearable cameras. Contour will continue to focus on products for the higher end of the camera market, where it has traditionally been a market leader. The joint organization will invest in the innovation of camera hardware as well as in software solutions to enable consumers to shoot, edit, share, live stream and store their video/photo content in the cloud as simply as possible.
The comprehensive product line will include home security solutions; dash cams; tactical and police cameras; tiny, wearable, “lifestyle” cameras; action/adventure cameras; and high-end professional-quality production cameras.
“Our goal is to offer the widest array of easy-to-use, connected cameras in the market, providing a product for every consumer, at every price point,” said Tomaselli. “We’ll now have resources to continue innovating in key categories while expanding our global presence.”
“Contour brings a tradition of innovation and cutting-edge technology to the unbeatable manufacturing capabilities of iON,” said Harrison. “Investment in innovation and IP differentiates us from our competitors. Now we will be able to bring great innovations to market much more quickly. The combination of iON and Contour creates a camera company ready for the future of video capture and live streaming.”