Walkie-talkie maker Motorola Solutions Inc (MSI.N) said on Thursday it would buy Canadian security camera maker Avigilon Corp (AVO.TO) for $1.2 billion in cash.
Motorola's offer of $27 per Avigilon share represents a premium of 18.3 per cent 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 $1.2 billion is based on Reuters calculations.
Vancouver-based Avigilon makes surveillance cameras and other security hardware.
Advertisement