Motorola Solutions is set to acquire Canadian video surveillance developer Avigilon in a deal worth US$1bn.The all-cash deal, which includes Avigilon’s net debt, will give Motorola a foothold in a video surveillance market central to mission-critical environments – like oil and gas, transportation, utilities, manufacturing – and smart, connected cities.
Motorola Solutions specialises in providing mission-critical communication services.
“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 of 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.
Said Alexander Fernandes, Avigilon’s founder, chief executive officer and chairman of the board: “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.”
Motorola Solutions will benefit from more than 750 US and international patents held by Avigilon.
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.
From installers and integrators to consultants and heads of security - we surveyed hundreds of professionals working in the field to bring you this latest annual report.
Download now to discover top industry insight around the latest innovations in network cameras and video surveillance systems.
Leave a Reply
Be the First to Comment!