The security manufacturer IndigoVision has agreed to an acquisition by Motorola Solutions. The electronics firm is paying £4.05 for each IndigoVision shard, valuing the Edinburgh-based company at £30.4m. That compares with IndigoVision’s share price before the announcement of under £2.
Pedro Simoes, chief executive of IndigoVision, said: “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.”
John Kedzierski, senior vice president, video security solutions at Motorola Solutions, added: “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.”
A final dividend of two pence per IndigoVision share, as announced in the company’s preliminary financial results for 2019, is cancelled. Motorola Solutions says that it has a presence in video security already; offering high-definition cameras, video analytics, network video management hardware and software and access control. Motorola says it believes IndigoVision’s range of products are ‘highly complementary to its video security and is looking for ‘enhanced geographical reach across a wider customer base’.
