Subscribe to RSS - Avigilon

Avigilon

Is Avigilon in a buying mood again?

 - 
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
 - 
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?

 - 
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
 - 
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’
 - 
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

 - 
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.

ISC West 2013: Day 1 & 2

 - 
Friday, April 12, 2013

Lots of people on the show floor on Wednesday! 29,900 square feet of exhibit space and 1003 booths, is what I heard.
Wednesday started for me with the Axis Press Breakfast, where the network camera company introduced three new cameras and an upgraded Axis Camera Companion. In 2012, there were 60,000 downloads of the software, according to Axis’ Fredrik Nilsson.

The cameras of the future will be customized for customers with apps, the same way we currently customize our smartphones, Nilsson said. With that in mind, Axis also announced a partnership with the Wentworth Institute of Technology, a college in Boston, where students will design apps for cameras. One professor, Charles Hotchkiss, and two students, Joshua Ramirez and Nicholas Gelfman,  attended the breakfast and the two students talked about the apps they’ve already developed.

Gelfman is working on a 3D multi-tracking app that is intended to alert operators if someone is trying tamper with a camera. The app determines where an approaching person or object is distance-wise from the camera and sends an alert if it gets too close. Gelfman put it in simple terms for me: “Cameras see in 2D, this app basically allows it to see in 3D.”

Ramirez is a sophomore computer information systems major from Hanover, N.H., who is the station manager of Wentworth’s radio station WIRE. 
“I had a selfish reason for developing the app” he said. Students who work in the radio station are supposed to sign in and out when they come to work at the station, but they often don't do that, he explained. So Ramirez developed an app that automatically records the time that a student comes into or leaves the station, and it sends Ramirez an email alert under certain conditions.

He named the app Alibi. It "tracks students and if they log in, [the app] is their alibi to say that they were [at the station]," he said.

“It’s still a work in progress. I’ve spend six weeks on it but it was during exams and finals,” Ramirez said.   

Nilsson said that Axis didn’t give the students any ideas about kinds of apps to develop. They approach the project with no preconceived notion of what kinds of apps to develop. Axis has been amazed with the results, he said.

After the Axis breakfast, I did a video interview with Renae Leary and Matthias Ernst of Tyco Global Accounts were I got an update on how Tyco's global enterprise customers are standardizing their security systems across in offices spanning the globe.

At a press conference Bosch launched 110, count ‘em, 110 new video products and previewed its ‘4K Ultra HD’ camera. It also announced its integration partner program and is showing integration with 5 VMS providers in its booth.

Next, I interviewed Mark VanDover of Tyco IS for ssnTVnews. He talked about the progress the integration giant has made as a standalone entity over the past year and a half.

More mobile news: Jay Hauhn, Tyco IS Chief Technology Officer, also did an interview for ssnTVnews. We talked about Tyco’s launch of  MSM, Tyco’s Mobile Security Manager.

Next up was an interview with Tony Byerly, Felix Gonzales and Jeremy Brecher of Diebold, where I got to see a demo of their very cool “SecureStat” enterprise security platform. I heard about it at ASIS and saw if for the first time at the show. Here’s a YouTube video about the platform.

At a NICE press conference, Tony Ruiz, City of San Diego, talks about implementing NICE's Situator, to manage protection for its critical infrastructure, and for the city too. The implementation is new, but Ruiz said it's already saving training time and money for the city and taxpayers.

Back on the show floor, I met with Bryan Schmode, EVP of Global Sales at Avigilon. We talked about Avigilon’s the Adaptive IR in its new bullet camera, and the company's new Dallas headquarters.

Also had a chance to swing by Next Level Security Systems and talk to Bill Jacobs. I got to see some of the stuff I spoke to Bill and Jumbi Edulbehram about in this story.

Next I had a chance to visit with Stan Oppenheim and Dan Oppenheim at Affiliated Monitoring. Looking forward to seeing their new monitoring station the next time I get to NYC.

And, I wrapped up Day 1 after catching up with Will Schmidt and other CapitalSource folks.

THURSDAY, April 11

Is Thursday Day 2 or Day 3 of the show? Officially, it’s Day 2, but with so many events scheduled for Tuesday, it really is Day 3 for most of us.

Whichever day it was,  it kicked off brilliantly with the fourth annual Security 5K!

We had a different course this time. Rather than starting near the Fashion Show Mall, the 2013 start line was a half-mile jog or bus ride away from the Sands in an office park of sorts. The course was a completely flat out-and-back labyrinth of switchbacks. Best course yet in my opinion. It wasn’t exactly bucolic, but the office park was considerably greener and cleaner than past year’s courses, and it was fun to watch the crowd of runners ahead of you snaking back and forth around the park. And because of the switchbacks, the finish line appeared closer than it really was.

More than 400 finished the 5K and there was a big crowd for the 2K as well.

Most important, we raised more than $90,000. Mike Perkins of Anixter raised more than $7,000 with his company match. Jesse and Nicole Foglio raised $2,350, and Bob McKee raised $1,685.

Mission 500’s George Fletcher said that 650 people registered for the race. If each person raised $100, we would raise $65,000 before any extra fundraising efforts—something to think about for 2014.

Back on the show floor on Thursday morning I did an ssnTVnews interview with John Mack, managing director and head of M&A for Imperial Capital. We were talking about the availability of financing and the flow of PE money into the industry. Here’s an interesting statistic: More than half of the top 20 alarm companies are now owned or have majority ownership by private equity firms. Five years ago “it was just a handful,” he said.
It’s a great time for alarm company owners and integrators to refi their debt or make acquisitions, Mack added.

I stopped by the Stanley booth on my way to Denis Hebert’s HID Global Strategy Briefing, which was packed, as usual. Hebert gave a great presentation. His focus this year was on the opportunities and potential pitfalls the security industry needs to be aware of as access control goes mobile. The move to mobile will “redefine credential use and management” he said. As a result, “best practices” for end users and integrators will become more important than ever. Privacy is an increasingly crucial element for all stakeholders to consider, he added.

Next I met with George Farley at Observint Technologies. Owned by The Carlyle Group, Observint was formed in 2006 with the goal of acquiring security-focused companies. Observint acquired Supercircuits in 2006. It subsequently bought Security Cameras Direct, DIGIOP and SC Technologies. Last summer it helping LG Electronics relaunch its security products in the United States, and this past November it acquired access control provider infinias. Farley said the last six months have been “all foundational work for us. … [building] a comprehensive sale and support solution.” That was Phase 1, he said. Observint is in Phase 2 now, he said, which is centered on its distribution partnership. Digiop and Infinias had distinct partners before the acquisition, and Observint is finalizing relationships with a variety of distributors, Farley said. The next phase will focus on the dealer, “building a robust and differentiated program … that will include demand generation support and sales support.”

At Milestone, I spoke with Courtney Dillon Peterson, about the company’s new Arcus product  “It’s a super-streamlined VMS that’s only for our technical partners to embed, not Milestone.” Partners embedding the solution, and present at the booth were Veracity, which is offering “Coldstore Arcus” for enterprise customers; Lenovo EMC (formerly Iomega), which is offering two different versions of what it’s calling LenovoEMC NVR; and, Razberri, which is offering its “Netswitch” appliance. “They each target a different audience and each offer a different form of VMS,” Peterson said.

The bottom line differentiation for this product? That it’s multi-platform, Peterson said. “It runs on Linux, MacOS and Windows. Others are Windows-based.” The product is “versatile … [and will enable partners to sell a] preconfigured, pre-installed, simplified VMS,” she said.

Samsung is in the midst of a “massive hiring campaign,” Frank DeFina told me during our meeting. Samsung was talking about its new 6000 Series line of cameras driven off its “core WiseNet II chip.” The full line of cameras are “available in every skin. … are 2.4 megapixel, with full 1080p. The clarity is second-to-none,” Samsung marketing director Janet Fenner said. Among the analytics available in this line is a “defogging” analytics, which gets rid of smoke or fog.

Back at our booth, I interviewed Don Erickson, CEO of SIA, and SSN’s own group publisher Tim Purpura. We spoke about two collaborative efforts SIA and SSN are working on—the distribution of SIA’s “Fiscal Year Informer,” a quarterly insert available through SSN with information about government grants; and, a webcast series on security technologies, moderated by me, and featuring a variety of speakers. The next webcast is scheduled for April 24. Here’s a link to that.

I did two other video interviews. One with Matthew Ladd, president and CEO of The Protection Bureau. We talked about how The Protection Bureau is saving money by sharing certain operational metrics with employees.

The other interview was will Bill Savage, CEO of Security Control Systems in Houston, and one of Security-Net's original founders. Security-Net, a group of independent integrators that functions as a national integrator, is celebrating its 20th anniversary. We talked about how the group has grown  from 5 to 20 integrators and the efforts it makes to ensure its employees are up to date on technology.

Next, I spoke to Pierre Racz, CEO of Genetec about the company’s new cloud-based video surveillance as a service solution for small and medium sized businesses. This offering takes Genetec “out of its comfort zone … into the realm of small camera-count  jobs, the 6-14 camera jobs [that represent a huge growth opportunity] for integrators and installers,” Racz said.

Thursday ended with the Security 5K reception. Mike Keegan of Magnasphere, who was honored for his community service efforts, gave a simple and compelling argument for getting involved with causes like Mission 500, the beneficiary of the Security 5k. “The ripple effect [of these efforts] is incredible,” Keegan said.

 

Avigilon promotes Marett to EVP of marketing

 - 
04/09/2013

VANCOUVER—Avigilon today announced the promotion of Keith Marett to executive vice president of marketing, communications and product strategy, according to a company statement.

Avigilon locates ‘global sales HQ in U.S.’

 - 
Wednesday, March 13, 2013

Vancouver-based Avigilon, manufacturer of megapixel cameras and other video surveillance products, is opening a U.S. headquarters in Dallas, the company announced this morning.
 
This location will also be the “global headquarters for sales.” Employees will include sales, business development and customer support.  The company plans to “add additional customer support personnel over the next year.”  

Bryan Schmode, executive vice president of global sales, will run the office.

Avigilon became a public company in the fall of 2011and has reported impressive growth and ambitious revenue goals since.  Some management changes were announced in October of 2012.

In a statement, Alexander Fernandes, president and CEO at Avigilon, noted that the “U.S. market accounts for a healthy percentage of our revenue.” Notable installations include: Minnesota Twins' Target Field, the Hard Rock Casino and Hotel in Albuquerque and the Dallas Love Field Airport.

"We chose Dallas because it is a business-friendly city. With access to an incredible talent pool and quality infrastructure it's no wonder several major corporations call this city home,” Fernandez said in a prepared statement.

Avigilon wins Tech Stock of the Year Award

 - 
01/15/2013

VANCOUVER—Avigilon, a supplier of high-definition megapixel video surveillance solutions, was voted the 2012 Cantech Letter Awards’ TSX Tech Stock of the Year, according to a company statement.

Pages