Motorola Solutions has announced a definitive agreement to acquire Avigilon in an all-cash transaction. The deal will bolster Motorola Solutions’ portfolio of mission-critical technologies. Under the terms of the agreement, Motorola Solutions will acquire all of Avigilon’s outstanding shares for CAD$27.00 per share. The enterprise value of the transaction is approximately US$1.0 billion including Avigilon’s net debt.
Avigilon manufactures surveillance solutions including video analytics, VMS software and hardware, cameras and access control solutions. The company boasts a range of commercial and government customers including critical infrastructure, airports, government facilities, public venues, healthcare and retail. The company holds more than 750 patents.
Greg Brown, chairman and CEO, Motorola Solutions, stated, ‘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.’
The acquisition will enable Motorola Solutions to extend into new segments of its commercial markets business, providing secure technology to industries such as oil and gas, transportation, utilities, manufacturing and higher education. Customers will now be able to purchase security and surveillance solutions as part of Motorola Solutions’ portfolio.
‘We’re very pleased to be joining Motorola Solutions, as its vision and strategy aligns fully with our own,” said Alexander Fernandes, Avigilon’s founder, chief executive officer and chairman of the board. ‘This combination will bring new opportunities to Avigilon, allowing us to accelerate our innovation and provide even more value to our customers.’
Motorola Solutions has sufficient capital resources, including cash on hand and available commercial credit facilities, to complete the transaction. The transaction is expected to be completed by the end of the second quarter of 2018, subject to customary closing conditions.