Despite coronavirus fears and widespread business shutdowns, Motorola Solutions (MSI) is staying focused on the long term, and seeking value through acquisitions. The company recently announced it would acquire IndigoVision Group plc (LON: IND), a U.K. company based in Edinburgh, Scotland.
IndigoVision is an all-in-one video security system provider. The company provides security cameras, video cameras, and body worn cameras, as well as the system software and operating systems.
IndigoVision touts their “Unique Distributed Network Architecture [which] removes the need for a central server – so no single point of failure, greater resilience and no network bottlenecks.”
IndigoVision has also developed an artificial intelligence search engine that speeds up the review process of video surveillance. BriefCam lets IndigoVision customers quickly and easily review hours of footage in minutes, rapidly identifying people and objects of interest by object type, attribute, direction, color or size.
Commenting on the acquisition, Motorola Solutions Senior Vice President, Video Security Solutions, John Kedzierski, stated, “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.”
IndigoVision has support teams in 24 countries, with regional offices in New Jersey, Toronto, Dubai, and Sao Paulo. The company has also developed a network of over 1,200 trained and authorized IndigoVision resellers, who install and service the company’s equipment.
Pedro Vasco Simoes, CEO of IndigoVision, has said the combination will open new markets for IndigoVision in the U.S., and enable the company to mitigate the risk of acting as a smaller company.
Simoes stated, “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.”
In a regulatory filing, IndigoVision also noted that the merger will help to ensure the company has access to necessary components for which it is currently overly reliant on Chinese suppliers. The board of directors emphasized the fact that the combination with Motorola Solutions will positively impact the company, which is dealing with the coronavirus pandemic and ongoing tariff issues.
Motorola is paying $37.2 million for IndigoVision, which is a premium of 129% to the closing price of IndigoVision’s stock on the London Stock Exchange.
Steven Adams’s personal position in Motorola Solutions: none.
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