Motorola Solutions Inc. said it has agreed to acquire video surveillance maker Avigilon Corp. to boost Motorola Solutions' range of communications technologies.
Under the agreement, Motorola Solutions will acquire all of Avigilon's outstanding shares for C$27.00 per share for an enterprise value of about US$1.0 billion, including Avigilon's net debt.
The company said it has sufficient capital resources to complete the Avigilon transaction by the end of the second quarter, subject to regulatory and shareholder approvals.
"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, Motorola Solutions' chairman and CEO.
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- Michael Paolo Jamias
