"In the negotiation for determining sale price the valuation discussion starts and ends around the net income."
Strongly disagree. For Avigilon, the current net income is not relevant because they are an operational company in the same market.
Avigilon knows they can slash the cost structure of VideoIQ tremendously, eliminating redudant roles (marketing, reps, bookkeepers, legal, admins, etc.) plus, since they have their own camera production facilities, they can decrease unit costs.
More importantly, Avigilon knows they have a powerful sales machine and rabidly loyal dealers, which means they can significantly increase recenue, even withought major R&D investment.
There are instances were net income is critical in valuation, but that's generally because the acquirer is a financier who cannot or does not plan major operational changes.