Through the acquisition, Avigilon adds a complementary product line to its end-to-end high-definition surveillance solution and provides the company with access to a growing segment of the global security market.

"RedCloud founder, Terry Neely and his team have redefined physical access control with their unique approach to converging IT and physical security. Avigilon and RedCloud have parallel philosophies when it comes to providing innovative technologies that deliver the most return for our customers," said Alexander Fernandes, president and CEO of Avigilon. "This acquisition brings new and exciting opportunities for Avigilon to participate in a larger share of the total security market. I’m thrilled to welcome Mr. Neely and his team to Avigilon."

"Avigilon’s innovative approach to security products makes it a perfect home for RedCloud," said Terry Neely, founder, president and chief technology officer of RedCloud. "With Avigilon’s resources, global sales channel and talented team we believe we can accelerate the expansion of our product roadmap and move the industry toward an integrated approach for IT and physical security."

Avigilon paid $17 million in cash to purchase the entire RedCloud business. The company expects the acquisition to be neutral to 2013 earnings and accretive to 2014 earnings. Terry Neely will continue to lead the access control development team.