Motorola Solutions recently announced that it has agreed to acquire Avigilon, which provides advanced security surveillance solutions to a range of a range of commercial and government customers.
The enterprise value of the transaction is approximately US$1.0 billion including Avigilon’s net debt. Under the terms of the agreement, Motorola Solutions will acquire all of Avigilon’s outstanding shares for CAD$27.00 per share.
“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,” Motorola Solutions Chair and CEO Greg Brown said. “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.”
Avigilon, which has more than 750 U.S. and international patents, designs, develops and manufactures solutions for video analytics, network video management software and hardware, surveillance cameras, and access control. Avigilon’s technology can issue alerts in real time when it detects a person, object or vehicle of interest.
“We’re very pleased to be joining Motorola Solutions, as their vision and strategy aligns fully with our own,” Alexander Fernandes, Avigilon founder, CEO and chair of the board, said. “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 including regulatory, shareholder and court approvals.