Arcules CEO Andreas Pettersson steps down

COPENHAGEN, Denmark — Milestone Systems has announced that Arcules CEO Andreas Pettersson will be stepping down from his position.

Arcules, which spun out from Milestone Systems in 2017, reintegrated with the company on July 1, 2024 citing a need to be optimally positioned for the growth expected in the VSaaS market.

“The merger offers unparalleled ability to exploit the rapidly changing Al landscape from on-prem to cloud and both Milestone and Arcules are advanced in working with video analytics. The combination of these strengths will provide significant market advantages,” the company wrote at the time.

Pettersson has been with Arcules since the beginning and was appointed CEO in 2018. From 2010-2017 he served as the Director in Incubation and Ventures at Milestone. Pettersson described his decision to step down as “a bittersweet moment”.

 “This concludes a 14-year chapter in my career,” Petterson said. “I feel that now is as good a time as ever to try something new. I will forever be grateful to Milestone's founders, the people and the leaders I met along the way. I firmly believe that Arcules stands to gain so much by rejoining Milestone. I’m proud to leave on such a high, and I’ll continue to cheer on Arcules and Milestone from the sidelines.”

Pettersson was thanked for his contributions to Arcules and Milestone over the years by Thomas Jensen, CEO of Milestone.

“Andreas has always demonstrated great skill, enthusiasm and a strong understanding of the market. He led Arcules to where they are today and created top-tier, cloud-based video software. While we all hoped Andreas would continue with Milestone, I respect his choice and wish him all the best in his future endeavors,” Jensen said.

Milestone described Pettersson as entrepreneurial by spirit, and being highly instrumental in growing the cloud video software provider during its start-up and incubation phase.