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Avigilon buys ObjectVideo’s patents, licensing program for $80.3m

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12/19/2014

VANCOUVER, British Columbia—Avigilon Corp. has acquired ObjectVideo Inc.’s entire video analytics patent portfolio and patent licensing program, which includes major global clients, for $80.3 million U.S. dollars.

Video companies branching out into access control

Watch for more video companies to follow suit
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10/10/2014

YARMOUTH, Maine—In the past 18 months, three major video surveillance companies have expanded into access control. There are many reasons why Axis Communications, Panasonic and Avigilon made this move, but the main reason, they say, is because of demand.

Avigilon gets patent for HDSM tech

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10/10/2014

VANCOUVER—Avigilon on Oct. 1 announced that its High Definition Stream Management (HDSM) technology has been awarded a patent by the United States Patent and Trademark Office.

Avigilon has video analytics news

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Wednesday, May 14, 2014

There was lots of video analytics news today.

Avigilon, which acquired VideoIQ at the end of 2013, today came out with the first combined offering of VideoIQ and Avigilon products. Avigilon added Rialto to its portfolio. Rialto has three appliances (for IP, analog and thermal cameras) that will enable end users to add VideoIQ analytics to existing Avigilon or other manufacturers’ cameras. I have a call into Avigilon for more details.

Avigilon's analytics play is a good move according research firm TechNavio which announced today a new report that predicts global intelligent video analytics market will have a compound annual growth rate of 34.12 percent over the period 2013-2018.  

What will drive that growth? TechNavio said it’s the need for sophisticated tools to analyze the “unstructured data" generated by video surveillance systems, as well as increased security concerns.

The other, important driver is the “increasing demand for intelligent video analytics with business intelligence tools,” the report said.

“When operational data is integrated with BI features, companies can generate profits by identifying and implementing profitable projects, increase sales by applying fact-based selling tools, enhance customer loyalty, and retain customers by optimizing customer experience management,” said Faisal Ghaus, VP of TechNavio, in a prepared statement. “Organizations can use IVA solutions combined with BI tools to predict the future behavior of potential and existing customers, which is a major driver for the growth of the market over the forecast period.”

This all made me think about the very excellent educational session at TechSec 2014  “The IP camera of the future,” where there was lots of talk about the crucial nature of video analytics that work.

“The full potential of the business value of security cameras has yet to be realized,” said Ray Coulombe, an entrepreneur and CEO of SecuritySpecifiers.com, who moderated the panel.  “Analytics, big data implementation, and the proper mindset of security practitioners will develop to the point where security cameras, and other devices, will be viewed as a more integral part of the business fabric.”

The vendors involved with the TechNavio report were listed as: Agent Video Intelligence, Axis Communications, Honeywell, Bosch, Cisco. IBM, Infinova, Intellivision, Nice Systems, ObjectVideo, Verint, VideoIQ.

 

Is Avigilon in a buying mood again?

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Tuesday, March 18, 2014

Avigilon will soon have more cash for purchases.

The HD surveillance provider on March 17 increased a previously announced financing to $100 million (Canadian).

The official statement said that the “company intends to use the net proceeds from the offering for general corporate purposes and for potential strategic acquisitions.”  

I have a call in to Avigilon to see if they'll comment on why they're increasing the financing.

The offering is expected to close just after ISC West this year “on or about April 8, 2014,” the company said.

The financing, “a bought deal offering of common shares of Avigilon,” is an expansion of a previously announced bought deal offering for $69 million, which was announced in November, just before Avigilon acquired VideoIQ on Dec. 31.

Under the terms of the expanded financing, a “syndicate of underwriters led by GMP Securities L.P. and including BMO Capital Markets, National Bank Financial Inc., CIBC World Markets Inc., RBC Capital Markets and PI Financial Corp. have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 3,448,280 Common Shares at a price of $29.00 per common share for aggregate gross proceeds to Avigilon of $100,000,120,” the announcement said.

The syndicate may purchase an additional 517,242 shares at the same price up to 30 days after the closing. If that happens, an additional $15,000,018 will be raised, and Avigilon’s gross proceeds will be $115,000,138.

Avigilon to buy VideoIQ for $32 million on New Year’s Eve

Fernandes: Purchase brings opportunity to increase sales of VideoIQ and Avigilon
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12/31/2013

VANCOUVER, Canada—HD surveillance provider Avigilon announced Dec. 31 that it will pay $32 million to acquire VideoIQ, a Billerica, Mass.-based video analytics company.

What will Avigilon do with $69 million?

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Tuesday, November 26, 2013

Avigilon now has $69 million (Canadian) at its disposal for “general purposes and strategic acquisitions.”

The HD surveillance provider, which got into access control last May with the $17 million purchase of Red Cloud, today announced that it closed a $69 million bought deal equity financing.

So what will Avigilon do with the funds? I called Avigilon this morning to ask about plans for the funds. In an email response Alexander Fernandes, Avigilon president and CEO said: "... we look forward to growing Avigilon even further and will continue to consider potential opportunities as they arise. Although we are not presently considering any specific acquisitions, we are regularly presented with opportunities. The proceeds of our recent bought deal financing will allow us the flexibility to act upon any strategic opportunities that could complement Avigilon’s original focus on video surveillance."

I asked Avigilon CEO Alexander Fernandes about possible acquisitions in an interview one year ago. This was prior to the Red Cloud acquisition, and he said that an access control purchase was possible.

Here’s an excerpt from that interview.

With money in the bank, Avigilon will continue to add employees. The healthy balance sheet provides “stability and a better cushion,” Fernandes said. And while Fernandes emphasized that the company is “focused on internal growth,” it is in a position to make an acquisition if it sees fit. 

What might fit? “Something outside of video but complementary and related … like analytics,” Fernandes said. Or access control? “That’s possible,” he responded

Think it might acquire some more analytics capabilities now? We’ll see.

AVigilon is also pouring money into its growth plan. Its recent investor presentation outlines the following steps to get to its goal of $500m in revenue in 2016. 1. Expanding its sales reach (in North America, South America, EMEA and the UK; expanding into APAC with a dedicated sales force; growing the business development team to target enterprise opportunities) 2. Building brand awareness; and 3. Accelerating innovation by investing in R&D team; improving product development structure to get products to market faster.

Avigilon had another rosy quarter—doubling its revenues since Q3 of 2012. Last year it reported $25.5 million in Q3 revenues. This year is reported $51.1 million. It reported $12.7 million in EBITDA in Q3, up from $4 million one year ago. And, it reported Q3 net income of $8.6 million, compared to $2.1 million one year ago.  

The company announced the offering earlier this month. It issued 2,863, 270 common shares in Canada, for a price of $24.10 CDN. The offereing was underwritten by syndicate of underwriters led by GMP Securities L.P. and including BMO Capital Markets, National Bank Financial Inc., CIBC World Markets Inc., RBC Capital Markets, PI Financial Corp. and Cantor Fitzgerald Canada Corporation

Axis enters access control market

AXIS A101 Network Door Controller introduced at ASIS; will launch first in U.S. market, during Q4 of 2013
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09/24/2013

Updated on Sept. 26 with an interview with Fredrik Nilsson, GM Americas for AXIS Communications.

CHICAGO—Network camera provider AXIS Communications is now also a provider of network access control.

Avigilon gets into access control, buys RedCloud for $17 million

Avigilon CEO calls deal ‘very strategic’
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05/30/2013

VANCOUVER—In a $17 million cash purchase, high-definition surveillance provider Avigilon Corp. on May 30 announced it acquired privately held RedCloud Security, a provider of Web-based physical and virtual access control systems.

Avigilon aids security at Vancouver women’s shelter

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04/26/2013

VANCOUVER, British Columbia—Avigilon has donated a high-definition surveillance system to the Downtown Eastside Women’s Centre (DEWC) based here, according to a company statement.

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