SecurityWorldMarket

26/03/2020

Motorola to acquire Indigovision for £30.4 million

Edingburgh, UK

Motorola has announced that it is to acquire the UK manufacturer of end-to-end video solutions, Indigo Vision, for a recommended cash sum of GBP £30.4 million ( approximately US $37.2 million), which Motorola will fund through existing cash resources.  It is planned that the acquisition will be finalised in May 2020. 

According to an Indigovision announcement, the purchase price represents a premium of approximately 116 per cent to the average Closing Price per Indigovision share of 187.6 pence during the 12-month period ended on the Last Practicable Date.

Motorola Solutions, a leading global provider of mission critical communications and analytics, has a strong presence in the large and expanding area of video security. Motorola Solutions’ offerings include high-definition cameras, advanced video analytics, network video management hardware and software and access control solutions. Motorola Solutions believes that Indigovision’s range of products, global presence and customer base are highly complementary to Motorola Solutions’ existing presence in video security and therefore believes that the acquisition will provide Motorola Solutions with enhanced geographical reach across a wider customer base.

The news of the acquisition comes following the final results from Indigovision on the 5th March 2020 stating that sales for the financial year ended 31 December 2019 were $50.2m, representing a 9.2% increase over 2018. In addition, over the last 12 months the company has appointed Vikki Macleod to the Board in March 2019, adding expertise in software development, appointed a new Head of Marketing, Vice-President of Product and Engineering, and Head of Customer Care and Operations from outwith the business, and it has strengthened its Senior leadership team.  Additionally, Indigovision also acquired Agorasys SA in November 2019 to enhance the company's software product offering. 

Commenting on the acquisition by Motorola, Pedro Vasco Simoes, Chief Executive Officer of Indigovision said: “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.”

Commenting on the acquisition for Motorola Solutions, John Kedzierski, Senior Vice President, Video Security Solutions, said: “We share Indigovision’s commitment to providing next-generation, end-to-end video security solutions that enhance safety, security and efficiency. Indigovision’s end-to-end offering, global presence and customer base will complement our existing and growing presence in video security and analytics.”


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