Motorola Solutions, Inc. announced it has acquired VaaS International Holdings, Inc. (VaaS), a data and image analytics company based in Livermore, California and Fort Worth, Texas. Motorola Solutions paid a purchase price of $445 million in a combination of cash and equity. VaaS, a ‘video analysis as a service’ company, is a global provider of data and image analytics for vehicle location. The company’s image capture and analysis platform, which includes fixed and mobile license plate reader cameras driven by machine learning and artificial intelligence, provides vehicle location data to public safety and commercial customers. Its subsidiaries include Vigilant Solutions for law enforcement users and Digital Recognition Network (DRN) for commercial customers. The company’s 2019 revenues are expected to be approximately $100 million. Improving speed and accuracy of investigations Vehicle location information can help accelerate time to resolution and improve outcomes for public safety agencies“Automated license plate recognition is an increasingly powerful tool for law enforcement,” said Greg Brown, chairman and CEO, Motorola Solutions. “With this acquisition, VaaS will expand our command centre software portfolio with the largest shareable database of vehicle location information that can help shorten response times and improve the speed and accuracy of investigations.” VaaS’ platform enables controllable, audited data-sharing across multiple law enforcement agencies. Vehicle location information can help accelerate time to resolution and improve outcomes for public safety agencies, particularly when combined with police records. For example, law enforcement has used VaaS’ solutions to quickly apprehend dangerous suspects and find missing persons. License plate data and AI technology “We are very excited to be joining Motorola Solutions,” said Shawn Smith, co-founder of VaaS and president of Vigilant Solutions. “This acquisition enables us to continue to serve our existing customers and expand our footprint globally, while at the same time supporting a company with a commitment to innovation and growth, guided by a common purpose that aligns with our mission and culture: ‘To help people be their best in the moments that matter.’ It doesn’t get any better than that.” VaaS’ fixed and mobile license plate reader cameras can capture and analyse license plate information, which differs greatly by state and country “Our extensive license plate data and AI technology have opened new commercial applications of our products,” said Todd Hodnett, co-founder of VaaS and president of Digital Recognition Network. “We believe commercialisation of these new applications can be accelerated under the Motorola Solutions brand and reach, and we look forward to working together to grow and diversify our commercial business.” License plate reading is a highly specialised practice that requires purpose-built cameras and analytics. VaaS’ fixed and mobile license plate reader cameras can capture and analyse license plate information, which differs greatly by state and country, even when vehicles are moving at high speeds or in low-visibility weather conditions.
Motorola Solutions has announced that it has entered into a definitive agreement to acquire video surveillance provider Avigilon in an all-cash transaction that will enhance Motorola Solutions’ portfolio of mission-critical communications technologies. Under the terms of the agreement, Motorola Solutions will acquire all of Avigilon’s outstanding shares for CAD$27.00 per share. The enterprise value of the transaction is approximately US$1.0 billion including Avigilon’s net debt. Avigilon advanced security solutions Based in Vancouver, British Columbia, 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 centres and retail. The company holds more than 750 U.S. and international patents. “This acquisition will bring Avigilon’s advanced video surveillance and analytics platform to the rapidly evolving public safety workflow, while also expanding our portfolio with new products and technologies for commercial customers,” said Greg Brown, chairman and CEO, Motorola Solutions. “Video can play a powerful role in creating safer cities and thriving businesses. It can serve as highly efficient ‘eyes and ears’ for monitoring a given location, and advanced video analytics can proactively alert officials to a perimeter breach or quickly find a person who left behind an object of interest.”This acquisition will bring Avigilon’s advanced video surveillance and analytics platform to the rapidly evolving public safety workflow, while also expanding our portfolio" Expanding Motorola Solutions' portfolio As more cameras feed into public safety workflows, video surveillance and analytics will enable more public-private partnerships between local communities and law enforcement. The acquisition will also enable Motorola Solutions to extend into new segments of its commercial markets business, which provides secure, reliable communications technology to industries such as oil and gas, transportation, utilities, manufacturing and higher education. Customers will now be able to purchase advanced security and surveillance solutions as part of Motorola Solutions’ portfolio of critical communications technology for commercial markets. Avigilon’s video surveillance platform helps transform video from reactive – looking back at what has taken place – to proactive, issuing alerts in real time when a person, object or vehicle of interest is detected. This critical intelligence enables users to take the right action more quickly. New opportunities for Avigilon “We’re very pleased to be joining Motorola Solutions, as their vision and strategy aligns fully with our own,” said Alexander Fernandes, Avigilon’s founder, chief executive officer and chairman of the board. “This combination will bring new opportunities to Avigilon, allowing us to accelerate our innovation and provide even more value to our customers.”This combination will bring new opportunities to Avigilon, allowing us to accelerate our innovation and provide even more value to our customers" Motorola Solutions has sufficient capital resources, including cash on hand and available commercial credit facilities, to complete the transaction. The transaction is expected to be completed by the end of the second quarter of 2018, subject to customary closing conditions, including regulatory, shareholder and court approvals. For more information on the acquisition rationale and market opportunity, view the investor presentation on the Motorola Solutions Investor Relations website. Avigilon shareholder agreement The transaction is structured as a statutory plan of arrangement under the Canada Business Corporations Act. The transaction has the unanimous support of the Special Committee of the Avigilon Board, as well as Avigilon’s full Board. Shareholders representing approximately 12 percent of the issued and outstanding common shares of Avigilon have already agreed to support the transaction. Full details of the transaction will be included in an information circular to be mailed to Avigilon shareholders in respect of an Avigilon shareholders meeting to approve the transaction.
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