Motorola Solutions has agreed to acquire IndigoVision, a U.K.-based provider of end-to-end video security solutions.
The boards of Motorola Solutions, its holding company and IndigoVision have reached an agreement on the terms of a recommended cash acquisition for approximately $37.2 million, representing a premium of approximately 116 percent based on the average share price over the most recent 12-month period. The acquisition will be funded by existing cash resources of Motorola Solutions and become final in May 2020.
Motorola Solutions has a strong presence in the large and expanding area of video security since acquiring Avigilon in March 2018. Their product offerings include high-definition cameras, advanced video analytics, network video management hardware and software and access control solutions.
IndigoVision is a developer of complete, end-to-end video security solutions from cameras to video recorders to body-worn cameras to security management software.
Motorola Solutions says the IndigoVision range of products, global presence and customer base are "highly complementary" to Motorola Solutions' existing presence in video security. Among the benefits is enhanced geographical reach across a wider customer base.
"The access we will now have to Motorola Solutions' range of innovative technologies will create new opportunities for IndigoVision and enable us to bring an exciting proposition to the market that allows us to further deliver on our goal of delivering safety, security and business intelligence," says Pedro Vasco Simoes, Chief Executive Officer of IndigoVision.
"We share IndigoVision's commitment to providing next-generation, end-to-end video security solutions that enhance safety, security and efficiency," says John Kedzierski, Senior Vice President, Video Security Solutions, Motorola Solutions.
