To enhance Motorola Solutions’ portfolio of mission- critical communication technologies, US based Motorola Solutions is set to acquire all of Avigilon’s outstanding shares for CAD $27 ($21.68) per share which will value the transaction at approximately $1 billion including Avigilon’s net debt.
Avigilon designs, develops and manufactures advanced security surveillance solutions, including video analytics, network video management software and hardware, surveillance cameras, and access control solutions and is used by a range of commercial and government customers including critical infrastructure, airports, government facilities, public venues, healthcare centers and retail. Headquartered in Vancouver, Canada the company holds more than 750 U.S. and international patents.
According to Greg Brown, chairman and CEO, Motorola Solutions:
“This acquisition will bring Avigilon’s advanced video surveillance and analytics platform to the rapidly evolving public safety workflow, while also expanding our portfolio with new products and technologies for commercial customers. 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.”
Motorola Solutions acquisition of Avigilon will enable Motorola to extend into new segments of commercial markets business for industries such as oil and gas, transportation, utilities, manufacturing and higher education providing secure, reliable communications technology. Public – private partnerships between local communities and law enforcement is expected to grow as more cameras feed into public safety workflows and video surveillance and analytics will also increase. Avigilon’s new acquisition will also allow Motorola Solutions to sell advanced security and surveillance solutions.
Avigilon’s video surveillance platform is more proactive as it can issue alerts in real time when a person, object or vehicle of interest is detected which will enable the concerned departments to take appropriate actions promptly.
Alexander Fernandes, Avigilon’s founder, chief executive officer and chairman of the board also added the following about the acquisition:
“We’re very pleased to be joining Motorola Solutions, as their vision and strategy aligns fully with our own. This combination will bring new opportunities to Avigilon, allowing us to accelerate our innovation and provide even more value to our customers.”
The transaction is expected to be completed by the end of the second quarter of 2018, subject to customary closing conditions. Motorola has sufficient cash on hand and capital resources including available commercial credit facilities to complete the transaction.
About Motorola Solutions
Established in 1928 and headquartered in the US, Motorola Solutions provides mission-critical communication infrastructure, devices, accessories, software, and services. Motorola Solutions operates in two segments namely: products and services. The company operates in North America, Latin America, the Asia Pacific, the Middle East, Europe, and Africa.
Established in 2004 and headquartered in Canada, Avigilon Corporation designs, develops, and manufactures video analytics, network video management software and hardware, surveillance cameras, and access control solutions. Avigilon’s products include high definition Internet protocol cameras, network video recorders, analog video encoders, access control and security products, RIALTO video analytics appliances, and video management software products. It employs around 1171 employees.