Avigilon Admits Contacting 70 Bidders

Author: John Honovich, Published on Mar 01, 2018

A new Avigilon financial disclosure shows that Avigilon, via its banker, had contacted 70 bidders in a formal 'sales process' conducted in late 2016 and early 2017, confirming IPVM's report of Avigilon acquisition negotiations during that time.

In this note, we examine this financial disclosure, what this means for Avigilon and what industry participants can learn from this process.

* *** ******** ********* ********** ***** **** ********, *** *** banker, *** ********* ** ******* ** * ****** '***** *******' conducted ** **** **** *** ***** ****, **************'* ****** ** ******** *********** ************ ****** **** ****.

** **** ****, ** ******* **** ********* **********, **** **** means *** ******** *** **** ******** ************ *** ***** **** this *******.

[***************]

Bidding ******* **** ** ** ** ** * ** ****

******-**** ******** '**** ** ***********'******** *** **** **** ******** *** *** *** ***** ******** Motorola. *** ***/*** ** **** ***** *********** ** *******, ****** meetings **** **, *********** **** *, * **** ***** *** be ******* **** ***, ** *** ********** ***** ****:

From **** ** ********

***** ** **** ***** ** ******* ** *** ******* ***** process, ***** ** ** ****, ******** ********** ******** ** *** screencap ***** *****:

From ***** *** ** *** **** ** $** ***** ***********

*** ******* ** **** ********** *** ******* *** **** ******** was ** * *****-**** *** ** *** ***** ** *** October **** ***** *******, **** **** ******** *** ***** ***** when ******** ******* *** ** ******** ** ******* ****. *** stock ***** ****** ***** *********** ****:

**** ******* ***** ** *** ******** *********** (** **** ** common *****), ******** *** ******* *** * **** ****** ******** price **** *** **** *** ** $* *** *****. **** likely *********** ** ** **** ***** *********** ** ***** ****. In *** ********, ******** ************ ******* *****, *********** ******** ***** headcount, ********* ******** *******. **** ******* ****** ***** *** ******* a ****** *********** *****.

** *** ***** ****, ******** *** ******** ** $* **** per ***** **** ***** **** ****, * ***** ***, ******* some ********* ** ** *********** ** ****** *** ****.

Lessons - ** *** ******* **** ***********

*** ** *** ******** ******* ********* ********* ** *** **** / **** **** ***** *** **** **** **** *** ******* their *********** *** **** ***** *********** ***** **** **** ** a **** *** *********. *********, ***.

** ** *****, **** ** *** * ********* ** ******* salespeople. ***, ******** ** * ******** ****** ******* ** ************* such ***-****** *********** ***** ****** ***** ***** ****. ********, **** if **** **** *** ******, *********** *********** *** ******* **** the **** *** ***** ** ** ******* *********** *** *********.

Lesson - ***** ***** **** ****

**** **** ******** ********* ******* ** ********** * **** **** almost * **** *** * ****. ******* * *****-******* ******* dollar ******* ***** ****, ********** ****** ** **** ** **** as ********.

********* ***** ** * ******** ** ***** ***** ****** ***** away, *** ******** ***** ** * **** ****** ****** *** scenes.

Lesson - **** *** ******* *****

**** ********* ****** **** ********** ****** ** ********** ******* *****, and ******** *** ********* ***** ** *** **** **** * year (*.*.,******** ****** ******** ** ********** ************* (** **** *******),******** **** ***** ******** ****,******** *** *** ***** ********* *******), **** ** ***** * ****** ** * ******* ********* itself *** ****.

******* *****, *** ****** *****, *** ********** ** *** ***** term, ********* *******. ******* *** **** ** ******* ****** **********, as **** ******* *****:

******* ********'* **** - **** **** ******* ** *********** ** good **** **** ******** ** ********* ******** *** ***** ** no ***** ***** ***** ****** ******** *** ***** ***** *** drive * ****** ********* ****.

Update - ********* ** *** ***** *** ***** **** *******

*** ****** ******** ** ********** **** ** ***** ** * March **** ******* ** **** ** *** **** *** *** board ****** **** **** / ******** **% ** *** ******. They **** ** **** **** **** *** ****** ***** ** approve *** ****.

** **** ******* *** *** *****, ** ***** ** ******** they ***** ******** **** *******, ***** *** ********* *********** ********. But ********** *** ** ** ** ** * ** **** to ******** **** ****** **** **** ************ ** **** ********* this ** *** **** **** **** *** ***** ** ***.

Comments (29)

John Honovich

IPVM | 03/01/18 06:32pm

** * ******* ****, ** *******, **** ***** * ****** come *** *** *** "****** * ***** ** * ********** in *** **** **** *** *** **** *** **** ***** confirming *" ******* **** ** ******* ******** *** ****, ***. But * **** *** '*******' ** ***** **** ********. **** I ** *** ****, * ********* **** ** ** ** I ** **** ********* **** *** ****** *** ****** ********* of *** ****** *** * ****** *** ****** ** ****** likely ** ** ********. *** * ********* *** ** ***** but * ** ********* ******* *********** **** **** ** ** management.

Undisclosed Integrator #2

In reply to John Honovich | 03/01/18 08:13pm

** **** ** *******. *** *********** **** **** ****** ** not * ******** ***** ******** ** *** ***** ****.

***** *** * *** ** ***** ****** *** **** ** this ***.

Undisclosed Integrator #1

03/01/18 08:12pm

***** *****. ***** *******. * *** ***, ** *** ******** to ****** ** ************ *** ****. **** ** *** **** work.

John Honovich

IPVM | 03/02/18 03:31pm

*** ***** ***** ** ******* ***** ** *** *** ** clear *** **** *** ********** **** ***.

*** ****** ** ***** ** * ***** **** ******* ** vote ** *** **** *** *** ***** ****** **** **** / ******** **% ** *** ******. **** **** ** **** sure **** *** ****** ***** ** ******* *** ****.

** **** ******* *** *** *****, ** ***** ** ******** they ***** ******** **** *******, ***** *** ********* *********** ********. But ********** *** ** ** ** ** * ** **** to ******** **** ****** **** **** ************ ** **** ********* this ** *** **** **** **** *** ***** ** ***.

John Honovich

IPVM | 03/02/18 03:40pm

********* ******* ** ********'* *******'* **********:

** $*.* ******* *** **** ******* **** $*,*** *** **** day ** ********** ******** **** ******. *-**** ***-******* *** ***-************.

Undisclosed Integrator #6

In reply to John Honovich | 03/02/18 06:04pm

***, **** ****** **** ***** *** ** ***** ******* "*** Fleecing ** *******", ******** * *** ** * *** ******* is **** ******* *** *******.

John Honovich

IPVM | In reply to Undisclosed Integrator #6 | 03/02/18 07:03pm

#*, ********* ** *** ******. ** ******* *** ******* ***** is ********* *** **** ******* **** *** ******* ******* *** company *** *** **** **** **** ** ******** ********** ** what ******* ** *** *******.

*** ** ********* ****, ** *** ** ********* **** **** other ****** **** ******* ** *********, *** *** **** *** he ***** *** ******** *** ********* **** * *** ****** than *** ***** ** ********** *** ******* ******.

** *** *** ***-**** $*.* ******* *******, * ***'* ******* understand **** **** ** ***, ** * ****** ***** ** its ******** ** ***************.

Undisclosed Integrator #6

In reply to John Honovich | 03/02/18 07:41pm

***'** *****, ********* **'* * ****** ** ***********. ** ** far **** *** ***** **'** **** ** *** ****. ** least ** *** *** ***** ** * ********** *******.

Undisclosed Integrator #3

03/02/18 04:10pm

** **** **** ******* **** *** ******** ***** *** *** our **** ***** ******* ****** **** * *** *** ***** system ******. ** **** **** ***** ** *** ****** *** the ****** ***** ******* *********** ******** **** ** ******* *** system, *** **** *** *** ***** ***** ********** ** ***** America. *'* ******* ********* ** *****. * ***'* ***** *** time ******.

** **** *** ******* ************ **** *** ***** *** ***** was ******** ********* *** ** **** **** *** ***** ********** in ** ** *** ** ** ****. * ** ********** to ****** **********. ** ** * ******* ** *** **** much ********** **** ****** **** ******** *** **'** ******** *** have ******* ***** ************* ** **** ** ********* *******.

** ************ **** ****** ****** ** **** ** * ******** to **** ******* *** ********** ** ** **** ******* **** our ****** ** ******** *** *** ***** ***** ** *** art ***** *** ****** ******* **** ******* ********. **** ** worth *** **********.

Undisclosed Integrator #2

In reply to Undisclosed Integrator #3 | 03/02/18 09:00pm

** ************ **** ****** ****** ** **** ** * ******** to **** ******* *** ********** ** ** **** ******* **** our ****** ** ******** *** *** ***** ***** ** *** art ***** *** ****** ******* **** ******* ********. **** ** worth *** **********.

*** ** ****** *** **** *** **** ********** ****** ** your ****** * ******?

** **** **** ** **** ********** ****** ** **** ** my ********* ***'* ******* * ** ** ****.

Undisclosed Integrator #3

In reply to Undisclosed Integrator #2 | 03/05/18 03:48pm

** ********* **** * ** ****. * ** *** ***** manager. * ** ***** *** ********* ******** **** ** **** us ******* ** *** ***** *** ********** *********. * ** undisclosed *** ***** ******* ********* ***********, *** *** *****, *** is ** **** *** ***** ** ** ***** ****** ***** and ******** ** **** ** *******!

Undisclosed #4

03/02/18 04:29pm

*** ** *** ******** ******* ********* ********* ** *** **** / **** **** ***** *** **** **** **** *** ******* their *********** *** **** ***** *********** ***** **** **** ** a **** *** *********. *********, ***.

*** ******* **** ******** ***** **** **** ** **** **** asked **********...

*******:********* ****** *** **** ***

Undisclosed #5

In reply to Undisclosed #4 | 03/02/18 04:35pm

* ***'* ***** ***** ** **** ******. **** ***** **** denied *** *********** ** *** *****. ***** **** **** ***** not **** * ***** ***** ******** ********** ****, **** ***** not **** **** ***** ******.

John Honovich

IPVM | In reply to Undisclosed #5 | 03/02/18 04:40pm

**** ***** **** ****** *** *********** ** *** *****. ***** that **** ***** *** **** * ***** ***** ******** ********** them, **** ***** *** **** **** ***** ******.

*** ******** **** ***** **** **** ******* **** ************ **** occurring. *** ********** **** **** ** *** * ****** '***** process' *** *** **** ****** ********** ** ******* ********.

Undisclosed #4

In reply to John Honovich | 03/02/18 07:09pm

*** ******** **** ***** **** **** ******* **** ************ **** occurring.

****’* ***** *** ***-****** ****** *** ****** **** *** ***** ;)

** *** ***** ** ******* *******, ***** ******* ***** ******* ones ******* ** * ********** **** ******** ** ****, *****:

*)********* ** ** ***** ******** ****** *** *******

*)** *** **** ***** ****, ********* ** *** ***** ******* of ***’*

*)** ** ********, *** ******, **...

Undisclosed Manufacturer #7

In reply to Undisclosed #4 | 03/05/18 05:17pm

*** *****/**** ** ******** ***** ****** *** **** *********? * for *** ***** **** ****'* **** ***** **** **** *** announcement *** **** ** ********.

Undisclosed Integrator #1

In reply to Undisclosed Manufacturer #7 | 03/05/18 05:30pm

** ****** ******** ***** ****** *** ** **** ** *** transaction. ****’* ** “ *** **** *** ** *** **** team *** *** **** **** ** ****”.

Undisclosed #5

In reply to Undisclosed Manufacturer #7 | 03/05/18 06:53pm

**** ***** ** *** *** *** ****** *** ********. *** company *** * ****** ******* ** ******* *********** *****************, *** in ******* **** *** ***** * *** **** *** ***** team **** ***** ** *** **** ***** ********* *********.

Undisclosed Integrator #1

In reply to Undisclosed #5 | 03/05/18 07:50pm

* ** ******* **** ** *** ************* ******** **** * transaction **** ** ******** ** ********* ******* **, *** ********* who *** *** ** * "**** ** **** *****" ***'* know. *** ** **********.

John Honovich

IPVM | In reply to Undisclosed Integrator #1 | 03/06/18 12:13am

*** ** **********.

**** ****** **** ********* ;)

***, ***, '**** ** ****' ** ********** ********** ****.

John Honovich

IPVM | 03/04/18 04:42pm

***, ********* *** ******** **** **** *** *** **** *** 'Project ******' ** *** ***** ** *** ****** *** * second ********* *********:

Undisclosed #5

In reply to John Honovich | 03/04/18 05:17pm

*********** *** **** ********* ** ******* *** ***** ***** *** trim **** *********** ***** ** **** ** **** ******, ********* Blue **** ***** **** **** **** ***********.

Thumbnail griffon logo1

Paul Grefenstette

03/04/18 05:38pm

*'* ******* *** *** ***** * **** ****** **** **** in.

John Honovich

IPVM | In reply to Paul Grefenstette | 03/04/18 07:50pm

* ** *** ******* ** ****. * ** ******** * number ** *** ***** ******** ************* **** ** *** ***** of ** *** *** **** *** *** ***** * ****.

Thumbnail gggr

David Coughlin

Protection One / ADT | 03/05/18 02:26pm

** *****, * *** ******** **** *** * ***** ***** how **** *********** ******** ******** ** **** ** ** ** bid ************.

**** *****, ***** ******* **** **** **** ******** **** *** acquisition *******.

Undisclosed #5

In reply to David Coughlin | 03/05/18 02:49pm

** *****, * *** ******** **** *** * ***** ***** how **** *********** ******** ******** ** **** ** ** ** bid ************.

** ***, ****** ******* * *** *** ***** ***** ***** possibly ** ** ******** ******* **** ** **** ** ******* the *******. **** ** ***** ** **** **** ****** **** scraping *** ****** ** *** ******. * ****** **** ****** bid?

John Honovich

IPVM | In reply to Undisclosed #5 | 03/05/18 02:53pm

**** ** ***** ** **** **** ****** **** ******** *** bottom ** *** ******. * ****** **** ****** ***?

****. * **** *** *** ****** *** * ******* ** was *** ********. ****** ******* ******** ******* *** ** **** of **** ********* **** ** *** **** **** *** ***** bite - ******, ***, ******, ********, *******, ****** *******, ***** :) ***....

Undisclosed Integrator #6

In reply to John Honovich | 03/05/18 03:45pm

...**, ****, ******* *****...

Undisclosed #4

In reply to John Honovich | 03/05/18 05:15pm

****** ******* ******** ******* *** ** **** ** **** ********* just ** *** **** **** *** ***** **** - ******, IBM, ******, ********, *******, ****** *******, *****...

*****: ** **** ** ** “***-**-***” ************ *******? *****...

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