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Avigilon helped to secure Rio’s 2016 Olympics


VANCOUVER, British Columbia—Avigilon’s technology—including video surveillance cameras, network video recorders and the company’s video management software—was used to keep the 2016 Summer Olympics in Rio de Janeiro safe and secure, the company announced on Aug. 22.

Avigilon makes some changes to its $240m facility

Wednesday, July 20, 2016

VANCOUVER, British Columbia—Video surveillance and access control provider Avigilon on July 18 filed documents to amend its existing $240 million multi-tranche senior secured syndicated credit facility. Security Systems News has previously reported on this credit facility. Originally closed on April 7, 2015, the facility's maturity date has been extended from April 7, 2018 to April 7, 2019.

I spoke to Avigilon's Darren Seed about the deal. Among the changes is one item which ups the price of a "permitted acquisition" from $30 million in the old deal, to $40 million in the new deal. Is Avigilon poised to buy a start-up for $31 million?

Seed said one shouldn't read anything into the small changes in the deal. He characterized this amendment and others as simple housekeeping. The extension was made at a very nice rate, he said, it made good business sense for Avigilon to take advantage of the terms offered. 

Avigilon designs, develops, and manufactures video analytics, network video management software and hardware, surveillance cameras, and access control solutions.

Avigilon to give preferred rates to ‘early adopters’ of its patent license plan


VANCOUVER, British Columbia—Avigilon, video surveillance, access control and security solution provider, in February announced the launch of the “Early Adopter Plan” for the Avigilon patent license program. The plan offers preferred license rates and terms to companies that enter into a patent license agreement with Avigilon prior to April 30, 2016.

Coverage, detail and complications as 4K cameras move forward


YARMOUTH, Maine—Security experts saw 4K camera technology coming their way a decade ago. They saw the market slide from consumers to security around 2013-2014. They know 4K will grow in the surveillance field, but the variables—in supporting technology development and opportunity cost—make the immediate future of 4K unknown and unpredictable.

'Poison pill' at Avigilon

Wednesday, January 13, 2016

Video surveillance company Avigilon on Tuesday adopted a "shareholder rights" plan, an anti-takeover measure that's sometimes called a "poison pill." The plan has been accepted by the Toronto Stock Exchange, but it needs to be approved by shareholders within six months. Avigilon plans to present the plan at is 2016 annual meeting.

Avigilon said it "is not aware of any proposed take-over bid at this time."

We've seen some major video surveillance acquisitions recently with Axis and Milestone being acquired by Canon, and recently, FLIR buying DVTEL.

One can see how Avigilon may be attracting attention from a larger entity looking to get into physical security. Avigilon has well-regarded video and access control technology, including the former VideoIQ portfolio. It owns a lot of video analytics IP, and I hear it has very good relationships with integrators. Plus its stock is down considerably. Yesterday its stock closed at $12.90; Avigilon's 52-week range is $11.20 to $25.62.

It's also had a lot of movement internally with managers. Here's a blog I wrote about that.

Under Avigilon's proposed shareholder rights plan, one "right" will be issued for each Avigilon common share. The rights can only be exercised if an aquirer announces an intention to acquire shares that would take their holding to "at least 20 percent of Avigilon's outstanding share capital." The rights would allow shareholders, "other than the acquirer, to purchase additional shares at a substantial discount." A "permitted take-over bid" would not trigger the rights plan. 


Avigilon gets new headquarters


VANCOUVER, Canada—Avigilon has a new $42 million headquarters here, with nine stories and 135,000 square feet, the company announced.

Avigilon ups credit facility to $240 million


VANCOUVER, Ontario—Avigilon on Nov.16 announced that it has increased its existing multi-tranche senior secured syndicated credit facility from $200 million to $240 million.

Management reorg at Avigilon

Wednesday, September 2, 2015

Avigilon, a video surveillance and end-to-end security solution provider, today announced two resignations and a management reorganization.

Bryan Schmode has resigned from his role as COO, and Collis Heath, SVP of Global Operations, has also left the company.

There have been a number of changes in Avigilon’s management ranks over the past few months. In August, Pedro Simoes, SVP of global sales, resigned and was replaced by James Hendershot. In May, Danny Cam, VP of Engineering left and was replaced by CTO and SVP Mahesh Saptharishi.

There have been several management changes in the past few years as well. The company announced today plans to streamline its senior management reporting structure “to increase operational efficiency.”

Avigilon's seven major departments—product development, sales, marketing, operations, finance, legal, and human resources—will now report directly to Alexander Fernandes, Avigilon's founder, president, CEO, and Chairman of the Board.

“This refreshed structure brings Mr. Fernandes closer to Avigilon's day-to-day operations while empowering department leaders with greater authority,” the company said in the announcement.

Avigilon has been one of the fastest growing security companies. Its stock, which trades on the Toronto Exchange, closed at $12.37 on Sept. 2. Its 52-week high is $25.62. Its low is $12.34.

Leong new CFO of Avigilon


VANCOUVER, British Columbia—Ric Leong has been named CFO of video surveillance provider Avigilon Corporation. He replaces Wan Jung, who will continue to serve on the company’s board of directors.

Avigilon adds new recorder


VANCOUVER—Avigilon Corporation, a provider of end-to-end security solutions, on June 11 announced the addition of the Avigilon Control Center (ACC) Edge Solution (ES) High Definition (HD) Recorder to its portfolio.