US telecommunications company Motorola has announced that it is set to acquire Vancouver-based Avigilon, a leader in advanced security camera surveillance and analytics, in a deal worth CAD$1.2bn.
“We’re very pleased to be joining Motorola Solutions, as their vision and strategy aligns fully with our own,” said Alexander Fernandes, Avigilon’s Founder, CEO 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.”
Avigilon has 750 partners, offering its services to a range of commercial and government enterprises incuding airports, government buildings, healthcare centres and retail outlets.
“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.”
The transaction will include a $1bn payment, whilst Motorola will also incur Avigilon's outstanding debt.