VC-backed Avigilon buys surveillance specialist VideoIQ for US$32 mln
Avigilon Corp (TSX: AVO), a provider of high-definition and megapixel surveillance solutions, has agreed to acquire Billerica, Mass.-based video analytics specialist VideoIQ Inc for US$32 million in cash. Avigilon said the transaction, which is expected to close in early 2014, will allow it to expand high-definition surveillance solutions to include robust analytics capabilities. The Vancouver-based Avigilon is a portfolio investment of British Columbia Discovery Fund (VCC), a retail venture capital fund managed by Discovery Capital Management Corp. Last year, the company acquired Sterling, Va.-based RedCloud Security Inc for $17 million.
2 January 2014•4 mins read
