Avigilon Corporation (“Avigilon” or “the Company”), a leader in high-definition (HD) surveillance solutions, today announced it has completed the previously announced acquisition of VideoIQ, Inc. (“VideoIQ”) for cash consideration of US$32 million.
VideoIQ’s real-time intelligent video analytics solution complements Avigilon’s innovative line of video surveillance products and provides the Company with a commercially proven analytics technology, one of the leading analytics development teams in the industry, and a deep portfolio of video analytics intellectual property including 40 issued and pending patents internationally. Avigilon plans to introduce VideoIQ’s existing products into its established global distribution channels in the near term and, over time, to integrate VideoIQ’s technology into the Avigilon system.
“VideoIQ is a great strategic fit and we welcome their talented team to Avigilon,” said Alexander Fernandes, president and CEO of Avigilon. “We look forward to working together on innovative solutions that set the standard for intelligent video surveillance.”
Headquartered in Billerica, MA, VideoIQ has approximately 30 employees and had annual revenue of approximately $11* million in 2013.
*Unaudited results for the year ended December 31, 2013.
Avigilon (avigilon.com) is defining the future of protection through innovative high-definition surveillance solutions.
Founded in 2004, we design and manufacture high-definition surveillance solutions that deliver the best evidence. Our open, industry-leading HD network video management software and megapixel cameras are reinventing surveillance by providing the world’s best image quality.
With our open components you can customize your own powerful, scalable and cost-effective surveillance solution. With all of our hardware and software designed and manufactured in Canada, you will always get the best quality and the most reliable products in the industry.
Avigilon systems protect and monitor various locations worldwide including major corporations, government institutions, stadiums, retail environments, casinos, critical infrastructure, transportation stations, and more, providing the best evidence possible.