COPENHAGEN: 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.”
