International. The acquisition will bring an end-to-end security platform, including high-quality video and AI-based analytics focused on public safety and business workflows.
Motorola Solutions recently announced that it has entered into a definitive agreement to acquire Canadian avigilon in an cash transaction that will enhance Motorola Solutions' portfolio of mission-critical communications technologies.
Under the terms of the agreement, Motorola will acquire all outstanding shares of Avigilon. The value of the transaction is close to $1 billion, including Avigilon's net debt.
Based in Vancouver, British Columbia, Avigilon designs, develops and manufactures advanced security surveillance solutions, including video analytics, network video management software and hardware, surveillance cameras and access control solutions.
Avigilon products are used by a range of commercial and government customers, including critical infrastructure, airports, government facilities, public places, healthcare centers and retail stores. The company holds more than 750 U.S. and international patents.
"This acquisition will bring Avigilon's advanced video surveillance and analytics platform to the public safety workflow, while expanding our portfolio with new products and technologies for commercial customers," he said. Greg Brown, President and CEO of Motorola Solutions.
Alexander Fernandes, Founder, Chief Executive Officer and Chairman of the Board of Directors of Avigilon said: "We are very pleased to be part of Motorola Solutions, as their vision and strategy fully align with ours. This combination will bring new opportunities for Avigilon, allowing us to accelerate our innovation and provide even more value to our customers."
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