IndigoVision Takeover Talks Terminated

Author: John Honovich, Published on Jan 30, 2012

A wild two month period for IndigoVision may be at an end. Recently, we reported that IndigoVision's CEO 'resigned' and then led an effort to take back the company. Now, as the parties have announced those talks have terminated, we look at the aftermath and their recent financial results.

Let's start with an update on the most recent events:

  • IndigoVision's stock price has gyrated wildly, dropping about 70% from February to October of 2011 (down to 165p per share) before doubling over the next three months since the acquisition negotiations started. Overall the stock is still down over 20% from its peak in the beginning of 2011 - now at 330p per share.
  • The Financial Times reports that the former CEO's initial bid a few months back was up to 265p while the Scotsman claims that the most recent bid was 'close to 400p' per share (this claim is unsubstainted and unconfirmed).
  • IndigoVision's stock price is now ~$40 Million USD compared to annual revenue of ~$45 Million USD. That puts them at a price to sales ratio of slightly less than 1, a ratio in line with the low growth company that IndigoVision has recently been.
  • The company disclosed it spent ~$500,000 USD direct costs on the 'battle' which is about 1% of annual revenue. Obviously, this does not reflect the overall disruption and negative publicity such an event caused.

The company also provided guidance on its last 6 months financial performance with revenue growth flat but appreciable gross and net margin growth (e.g., "sales are expected to be a little below the record levels achieved in the corresponding period last year" and "Operating profits ... are expected to exceed £1.5m, before exceptional items, comfortably ahead of last year's first half").

Where Now?

The good news is that the stock price has rebonded significantly and that the hostilities are over for now. The bad news is that revenue is still flat to down year over year. Things to watch:

  • If the stock price drops again, will this motivate the former CEO to try again to takeover the company?
  • Can IndigoVision get revenue growing to match the 25-35% rate of its main competitors?
  • What new products or approach will IndigoVision introduce to reinvigorate growth?

1 report cite this report:

IndigoVision Profile - Going Head-To-Head Against Milestone, Genetec on Oct 12, 2016
Cameras are commodities, the money is in VMS. This is the new philosophy of IndigoVision, long known as a closed end-to-end systems provider. The...
Comments : PRO Members only. Login. or Join.

Related Reports on IR

Ubiquiti $79 Flex IP Camera Tested on Dec 07, 2018
U.S. Manufacturer Ubiquiti has released a 1080p, integrated IR IP camera, selling it directly for $79, making this one of the least expensive IP...
Hanwha L Series Lowest-Cost Camera Tested on Dec 04, 2018
Hanwha has released their lowest-priced IP camera line ever, the L series, that competes on price with low cost competitors Dahua and...
Dahua Dual Imager Dome Camera Tested (HDBW4231FN-E2-M) on Nov 07, 2018
Dahua has introduced a dual-imager dome model, the HDBW4231FN-E2-M, with two independently positionable sensors including integrated IR, not found...
Camera Course January 2019 on Nov 01, 2018
This is the only independent surveillance camera course, based on in-depth product and technology testing. Lots of manufacturer training exists...
Hanwha Dual Imager Dome Camera Tested (PNM-7000VD) on Oct 18, 2018
Hanwha has introduced their first dual-imager model, the PNM-7000VD, a twin 1080p model featuring independently positionable sensors and a snap-in...
Dahua Face Recognition Camera Tested on Oct 15, 2018
Dahua has been one of the industry's most vocal proponents of the value that AI creates: As part of this, Dahua has released a facial...
Axis 4K vs. 5MP Camera Shootout (Q3518-LVE + Q3517-LVE) on Oct 04, 2018
Axis has released the 4K counterpart to their 5MP Q3517-LVE (see our test). Axis claims of both these cameras: Simply put, AXIS Q3518(17)-LVE...
Hikvision 4MP Camera Tested (DS-2CD2345FWD-I) on Sep 27, 2018
Hikvision's latest Performance Series / EasyIP 3.0 4MP model, the DS-2CD2345FWD-I, was the top performer in our 4MP shootout, besting rivals from...
4MP Camera Shootout - Axis, Dahua, DW, Hanwha, Hikvision, Uniview, Vivotek on Sep 24, 2018
4MP usage continues to climb, especially for low cost fixed lens models. To see who was best, we bought and tested seven 4MP models from Axis,...
Axis Vs. Hikvision IR PTZ Shootout on Sep 20, 2018
Hikvision has their high-end dual-sensor DarkfighterX. Axis has their high-end concealed IR Q6125-LE. Which is better? We bought both and tested...

Most Recent Industry Reports

Imperial Capital Security Investor Conference 2018 Review - ADT, Resideo, Alarm.com, Arlo, Eagle Eye, ACRE, More on Dec 14, 2018
Imperial Capital Security Investor Conference is an event matching industry executives with financiers that frequently leads to future funding...
Cisco Meraki New Cameras and AI Analytics on Dec 14, 2018
Meraki has released their second generation of video surveillance with 3 new cameras, AI-based video analytics, and 2 cloud-based storage...
Foolish Strategy: OEMing Facial Recognition on Dec 13, 2018
Almost as 'hot' as face recognition marketing right now is OEMing facial recognition. Last year, they were a who's who of company's with...
DVR Examiner - Video Recovery from Recorder Hard Drives on Dec 13, 2018
Bypassing passwords and long download times on-site, DVR Examiner collects and organizes video evidence directly from a hard drive extracted from...
2019 Access Control Book Released on Dec 12, 2018
This is the best, most comprehensive access control book in the world, based on our unprecedented research and testing has been significantly...
Huawei Hisilicon Quietly Powering Tens of Millions of Western IoT Devices on Dec 12, 2018
Huawei Hisilicon chips are powering, at least, tens of millions of Western IoT devices, such as IP cameras and surveillance recorders, a fact that...
FLIR Launches Body Cameras Unified With VMS (TruWitness) on Dec 11, 2018
While FLIR is best known for their thermal cameras, now they have expanded into body cameras, launching TruWITNESS, a public safety focused body...
Startup Sunflower Labs' Autonomous Drone Security System on Dec 11, 2018
Startup Sunflower Labs is claiming a unique design on a home security system, combining autonomous drones and 'Sunflower' sensors. Imagine an...
The 2019 Video Surveillance Industry Guide on Dec 10, 2018
The 300 page, 2019 Video Surveillance Industry Guide, covers the key events and the future of the video surveillance market, is now available,...
Multi-Factor Access Control Authentication Guide on Dec 10, 2018
Can a stranger use your credentials? One of the oldest problems facing access control is making credentials as easy to use as keys, but restricting...

The world's leading video surveillance information source, IPVM provides the best reporting, testing and training for 10,000+ members globally. Dedicated to independent and objective information, we uniquely refuse any and all advertisements, sponsorship and consulting from manufacturers.

About | FAQ | Contact