CANADA - Motorola Solutions Inc of the US definitively agreed to acquire the entire share capital of Avigilon Corp, a Vancouver-based manufacturer of HD surveillance systems, for CAD 27 (USD 21.928) in cash per share, or a total CAD 1.197 bil (USD 971.826 mil), via scheme of arrangement.
The purposes of the transaction were for Motorola Solutions Inc to expand its portfolio with new products and technologies, and to strengthen its operations as it expands its presence into new market segments of its business.
Date Announced: 02/01/2018
Deal Status (as of publication date): Pending
Deal Value (mil): $1,197
Goldman Sachs & Co. (Financial Advisor)
Sullivan & Cromwell LLP (Counsel, U.S.)
Baker & McKenzie LLP (Counsel, Canada)
McDermott Will & Emery
Morgan Stanley (Financial Advisor)
Osler, Hoskin & Harcourt LLP
(Counsel to Financial Advisor)
Farris, Vaughan, Wills & Murphy LLP (Counsel to the Company)
DuMoulin Black LLP (Counsel to the Company's Special Committee)
Goodmans LLP (Regulatory Counsel, Canada)
Paul, Weiss, Rifkind, Wharton & Garrison (Regulatory Counsel, U.S.)
Avigilon Corp, located in Vancouver, British Columbia, designs, manufactures, and markets HD surveillance systems. Its products include Control Center software, a network video management solution that captures, manages, and stores multimegapixel surveillance videos; NVRs, a plug-and-play network video recording solution for managing multi-megapixel IP cameras and analog cameras; cameras and video encoders, including high definition IP cameras, high definition professional IP cameras, and analog video encoders; rapid deployment kit; and camera resolution and lens estimator, a Web tool that allows the user to enter the details for a surveillance scene. The Company serves airports, border security, casinos, critical infrastructure, financial institutions, residences, retail, industrial supervision, law enforcement, military, port security,transportation and logistics markets. It has offices located in Africa, Asia, the Middle East, North America, Central and South America, Europe, Asia, Oceania, the United Arab Emirates, Bahrain, the Kingdom of Saudi Arabia, Sultanate of Oman, Qatar, Kuwait, and Romania. The Company was founded in 2004.
Motorola Solutions Inc, located in Chicago, Illinois, manufactures integrated communication and embedded electronic products. It offers software-enhanced wireless telephone, two-way radio, messaging and satellite communications products and systems, as well as networking and Internet-access products. The Company was founded in 1928.