February 1, 2018 / 9:45 PM / 19 days ago

Motorola to buy Canadian security camera maker Avigilon for C$1.2 bln

Feb 1 (Reuters) - Walkie-talkie maker Motorola Solutions Inc said on Thursday it would buy Canadian security camera maker Avigilon Corp for C$1.2 billion ($978 million) in cash.

Motorola’s offer of C$27 per Avigilon share represents a premium of 18.3 percent to Avigilon’s Thursday closing price on the Toronto Stock Exchange.

Motorola said the deal was valued at $1 billion including debt. The value of C$1.2 billion is based on Reuters calculations.

Vancouver-based Avigilon makes surveillance cameras and other security hardware.

$1 = 1.2269 Canadian dollars Reporting by Karan Nagarkatti in Bengaluru; Editing by Sai Sachin Ravikumar

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