Motorola Solutions has entered into a definitive agreement to acquire Avigilon in an all-cash transaction, according to an announcement. The transaction is expected to enhance Motorola Solutions’ portfolio of mission-critical communications technologies. Under the terms of the agreement, Motorola Solutions will acquire all of Avigilon’s outstanding shares for CAD$27 per share. The enterprise value of the transaction is approximately US$1 billion, including Avigilon’s net debt.
Vancouver, B.C., Canada-based Avigilon designs, develops and manufactures advanced security surveillance solutions, including video analytics, network video management software and hardware, surveillance cameras and access control solutions. Avigilon products are used by a range of commercial and government customers including critical infrastructure, airports, government facilities, public venues, healthcare centers and retail. The company holds more than 750 U.S. and international patents, according to the announcement
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,” says 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.”
