Motorola Buys Canadian Video Company for $1B
Thursday, February 01, 2018 | Comments

Motorola Solutions entered into a definitive agreement to acquire Canadian company Avigilon in an all-cash transaction for about $1 billion including Avigilon’s net debt. Motorola said the acquisition will enhance its portfolio of mission-critical communications technologies.

Under the terms of the agreement, Motorola Solutions will acquire all of Avigilon’s outstanding shares for C$27 (US$22) per share.

Based in Vancouver, Avigilon designs, develops and manufactures security surveillance solutions, including video analytics, network video management software and hardware, surveillance cameras and access control solutions. Commercial and government customers including critical infrastructure, airports, government facilities, public venues, healthcare centers and retail use the products. The company holds more than 750 U.S. and international patents.

“This acquisition will bring Avigilon’s advanced video surveillance and analytics platform into public safety, while expanding our portfolio with new products and technologies for commercial customers,” said Greg Brown, chairman and CEO, Motorola Solutions. “Video can play a powerful role in creating safer cities and thriving businesses. It can serve as highly efficient ‘eyes and ears’ for monitoring a given location, and advanced video analytics can proactively alert officials to a perimeter breach or quickly find a person who left behind an object of interest.”

The acquisition will also enable Motorola Solutions to extend into new segments of its commercial markets business, which provides communications technology to industries such as oil and gas, transportation, utilities, manufacturing and higher education. Customers will now be able to purchase advanced security and surveillance solutions as part of Motorola Solutions’ portfolio of critical communications technology for commercial markets.

Avigilon’s video surveillance platform issues alerts in real time when a person, object or vehicle of interest is detected. This critical intelligence enables users to take the right action more quickly.

“We’re very pleased to be joining Motorola Solutions, as their vision and strategy aligns fully with our own,” said Alexander Fernandes, Avigilon’s founder, CEO and chairman of the board. “This combination will bring new opportunities to Avigilon, allowing us to accelerate our innovation and provide even more value to our customers.”

Motorola Solutions has sufficient capital resources, including cash on hand and available commercial credit facilities, to complete the transaction. The transaction is expected to be completed by the end of the second quarter, subject to customary closing conditions.

The transaction has the unanimous support of the special committee of the Avigilon board, as well as Avigilon’s full board. Shareholders representing about 12 percent of the issued and outstanding common shares of Avigilon have agreed to support the transaction.

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