Motorola Solutions (NYSE: MSI) through Motorola Solutions Canada Holdings Inc. has completed acquisition of all issued and outstanding common shares of Avigilon (TSX: AVO) for cash consideration of CDN $27.00 per share for a total enterprise value of approximately US $1.0 billion including assumption of net debt.
Morgan Stanley Canada Limited and Fort Capital Partners acted as financial advisors to Aviglon. Baker & McKenzie LLP and Farris, Vaughan, Wills & Murphy LLP acted as legal counsel to Motorola and Avigilon respectively.
Vancouver based 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 venues, healthcare centers and retail.
photo credit: Avigilion
News Release
Motorola Solutions Completes Acquisition of Avigilon
03/28/2018
VANCOUVER, British Columbia, March 28, 2018 – Avigilon Corporation (“Avigilon”) (TSX: AVO) announced today that Motorola Solutions, Inc. (NYSE: MSI) has completed the previously announced acquisition of all issued and outstanding common shares of Avigilon.
Motorola Solutions through its wholly owned subsidiary, Motorola Solutions Canada Holdings Inc., acquired 44,617,813 Avigilon shares for cash consideration of CAD$27.00 per share. This, together with net debt, represents a total enterprise value of approximately USD $1.0 billion.
The Avigilon shares are expected to be delisted from the Toronto Stock Exchange effective as of the close of trading on or about April 2, 2018, and Avigilon will apply to cease to be a reporting issuer in all provinces of Canada.
A copy of Motorola Solutions’ early warning report will appear on Avigilon’s profile on SEDAR at www.sedar.com and may also be obtained by contacting Chris Kutsor, Motorola Solutions, at +1 847-538-7367. Motorola Solutions is located at 500 W. Monroe St., Chicago, Illinois 60661.
Avigilon is located at 555 Robson Street, Vancouver, British Columbia, V6B 1A6.
About Avigilon
Avigilon Corporation provides trusted security solutions to the global market. Avigilon designs, develops, and manufactures video analytics, network video management software and hardware, surveillance cameras, and access control solutions. To learn more about Avigilon, visit avigilon.com.
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For further information:
Media Enquiries:
Amy Day
Senior Manager, Global Communications
T: (604) 629-5182 x2625
media@avigilon.com
Investor Contact:
Avigilon Investor Relations
T: (604) 629-5182
investors@avigilon.com