On June 17, the board of directors of Motorola Solutions and IndigoVision has reached an agreement on the terms of the acquisition. The purchase price is approximately US$37.2 million. Based on the average stock price of the last 12 months, the premium is about 116%. The acquisition will be paid in cash by Motorola Solutions.
The acquisition is an investment in Motorola solutions in video security and analytics. IndigoVision's products, global business and customers are highly complementary to Motorola's existing business in the field of video security. One of the benefits of this acquisition is that it can expand the customer's regional coverage.
John Kedzierski, Senior Vice President of Video Security Solutions for Motorola Solutions, said: "We and IndigoVision will be committed to providing next-generation video security solutions for security and efficiency."
"We will now receive support for a range of innovative technologies for Motorola solutions, which will create new opportunities for IndigoVision and enable us to provide better products and services to the market, allowing us to further realize the provision of security and business The goal of intelligence." IndigoVision CEO Pedro Vasco Simoes said.
IndigoVision is a developer that provides video security solutions. Its products include cameras, video recorders, body cameras, and management software.