Motorola Acquires IndigoVision for $37 Million
Motorola Solutions has agreed to acquire IndigoVision, a Scotland-based provider of end-to-end video security solutions, for approximately $37.2 million in a deal that is expected to close by the end of May.
“Motorola Solutions is pleased to have reached agreement on the terms of a recommended cash acquisition of IndigoVision,” said John Kedzierski, Motorola Solutions’ senior vice president for video security solutions. “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.”
Motorola Solutions expanded its position in the security industry early in 2018, when the company purchased Vancouver-based Avigilon.
In fiscal year 2019, IndigoVision reported $50.2 million in revenue and the company’s first annual profit in several years, according to the company.
“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,” said IndigoVision CEO Pedro Vasco Simoes.
The deal is subject to approval by IndigoVision shareholders and completion of processes associated with UK law.