Dassault Systems is the first of France’s security camera companies to file for an IPO, with a valuation of €4.8 billion.
Dassault says the company will be the first in France to make a bid to compete with companies such as Gionet, Pirelli and Foscam.
Dassault says its security camera system will allow it to deliver security cameras to companies such a banks, police, hospitals and military that already have their own cameras.
It will also compete with similar products from companies like Philips, Canon, Panasonic, Fujitsu and Sharp, Dassault said in a filing with French financial regulators.
The company said it would be building on its existing security camera network and adding more security cameras for its customers.
Davide Ciolino, a partner at Foscamp who helped design the company’s cameras, told the Wall Street Journal that the Dassault system is “a game changer for security cameras in general and the French security industry in particular.”
Dassault said it is “confident” it will win the bid for the security camera market, and that it will have the capacity to scale up production if it wins.
Daimler AG, one of the companies that already has security camera cameras, has said that it plans to enter the market, while the other companies are expected to focus on offering security cameras that can be bought at stores, rather than buying them directly from manufacturers.
Daimler and its main competitor, Gionets, announced last year that they would launch their own security camera solutions later this year.
Dalibor, a leading provider of security cameras, says it will also offer its own cameras, but only to Gionettes customers.
The other security camera firms are expected start selling their own camera systems by the end of the year, with security cameras from other companies already being offered by the companies listed above.