Motorola Solutions agreed to acquire Avigilon, a supplier of advanced security surveillance solutions, for CAD$27.00 per share, valuing the transaction at approximately US$1.0 billion including Avigilon’s net debt.
Avigilon, which is based in Vancouver, British Columbia, holds more than 750 U.S. and Canadian patents related to video surveillance. The company’s portfolio includes 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.
“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,” 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.”
