The system is a 40Kg rig setup with four 16:9 pan-and-tilt HD Panasonic AW-HE120 cameras that give a single 160-degree panoramic view in 720p. The cameras are aligned so that one camera can pick up the view from where the other stops. Onboard computer and software not only control the cameras but also seamlessly stitch the images together that can be viewed on linked 16:9 screens or projectors.
The main concept and purpose for this camera is for sporting events, which allows an entire game to be viewed from one end of the field to the other, or a wide but up-close shot, allowing refs and coaches to analyze the game better.
Sony and Canon are developing something similar, although it’s also about the software, and Panasonic is the first company to develop it.
https://www.youtube.com/watch?v=P61BSSjWkPc