VANCOUVER, CANADA, March 28, 2018 /PRNewswire/ - Avigilon Corporation ("Avigilon") (TSX: AVO) announced today that Motorola Solutions, Inc. (NYSE: MSI) has completed the previously announced acquisition of all issued and outstanding common shares of Avigilon.
Motorola Solutions through its wholly owned subsidiary, Motorola Solutions Canada Holdings Inc., acquired 44,617,813 Avigilon shares for cash consideration of CAD$27.00 per share. This, together with net debt, represents a total enterprise value of approximately USD$1.0 billion.
The Avigilon shares are expected to be delisted from the Toronto Stock Exchange effective as of the close of trading on or about April 2, 2018, and Avigilon will apply to cease to be a reporting issuer in all provinces of Canada.
A copy of Motorola Solutions' early warning report will appear on Avigilon's profile on SEDAR at www.sedar.com and may also be obtained by contacting Chris Kutsor, Motorola Solutions, at +1 847-538-7367. Motorola Solutions is located at 500 W. Monroe St., Chicago, Illinois 60661.
Avigilon is located at 555 Robson Street, Vancouver, British Columbia, V6B 1A6.
Avigilon Corporation provides trusted security solutions to the global market. Avigilon designs, develops, and manufactures video analytics, network video management software and hardware, surveillance cameras, and access control solutions. To learn more about Avigilon, visit avigilon.com.
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For further information:
Senior Manager, Global Communications
T: (604) 629-5182 x2625
Avigilon Investor Relations
T: (604) 629-5182
Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include, without limitation, statements (express or implied) respecting: the expected delisting date of the Avigilon shares and the application of Avigilon to cease to be a reporting issuer.
Forward-looking statements are not guarantees of future performance, actions or developments and are based on expectations, assumptions and other factors that Avigilon's management currently believes are relevant, reasonable and appropriate in the circumstances.
Although Avigilon's management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Avigilon's business, as more particularly described in the "Risk Factors" sections of Avigilon's Management Information Circular dated February 21, 2018 and Avigilon's Annual Information Form dated March 6, 2018, each of which is available under Avigilon's profile on SEDAR at www.sedar.com. Although Avigilon has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements.
Avigilon undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.
SOURCE Avigilon Corporation