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

Hikvision 12MP Fisheye Camera Tested (DS-2CD63C2F-IV) on Jun 14, 2018
Hikvision's DS-2CD63C2F-IV is their flagship panoramic camera, with a 12MP imager, 15m integrated IR, smart codec, and more. We tested the 63C2 in...
Avigilon H4 Multi-Sensor Adds 32MP, H.265, Analytics on Jun 13, 2018
Avigilon has announced the H4 Multisensor, the successor to their repositionable multi imager line, adding features like H.265, integrated IR,...
Introducing Effective PPF (ePPF) - Improving Video Surveillance Designs on Jun 11, 2018
Pixel density (PPF / PPM) is the best metric the industry has to define and project video quality. It allows simple communication of estimated...
Hanwha Low-Cost 4MP Camera Tested (QNV-7010R) on Jun 11, 2018
4MP usage is increasing noticeably, as IPVM 2018 resolution statistics show. And low-cost, fixed focal cameras, are popular for budget...
Hikvision PanoVu 20MP Flexible Camera Tested on Jun 01, 2018
Hikvision has released their first repositionable multi imager cameras with integrated IR included, atypical in competitors. We bought and tested...
Stats: Upgrading Cameras Far More Common Than Replacing Failed Cameras on May 30, 2018
The old saying "If It Ain't Broke, Don't Fix It" does not apply here. New IPVM statistics show that 60% of cameras that are replaced still work but...
Oncam 12MP Fisheye Camera Tested on May 29, 2018
Oncam has made their name since the early 2000s as a fisheye specialist, focusing only on panoramic cameras. To see how this specialist stacks up...
Dahua 12MP Fisheye Camera Tested (NK8BR4) on May 16, 2018
Continuing our coverage of 12MP sensor fisheye cameras, we bought and tested the Dahua NK8BR4, examining: Default vs. Optimized...
Axis 12MP Stereographic Camera Tested (M3058-LVE) on May 10, 2018
Axis has released the M3058-PLVE, a 12MP sensor, stereographic panoramic camera and Axis' first with integrated IR claiming images "sharp to the...
Vivotek 12MP Fisheye Camera Tested (FE9391-EV) on May 08, 2018
Next in our 12MP fisheye camera evaluation, we bought and tested Vivotek's latest generation FE9391-EV, a new model claiming improved smart IR...

Most Recent Industry Reports

July 2018 IP Networking Course on Jun 16, 2018
The last chance to save $50 on registration is this Thursday, June 21st. Register now and save. This is the only networking course designed...
The Dumb Ones: PSA's Bozeman On Cybersecurity on Jun 15, 2018
The smart ones are the hundred people who flew to Denver and spent $500+ on a 1.5-day conference featuring Dahua as a 'cyber responsible partner',...
Amazon Ring Launches $10 Monthly Professional Alarm Monitoring on Jun 15, 2018
Amazon's Ring has announced an alarm system with 24/7 professional alarm monitoring for $10 per month, a fraction of the $30+ per month traditional...
Axis Releases First New Access Controller In 5 Years (A1601) on Jun 15, 2018
It has been 5 years since Axis 2013 entry in the physical access control market, with the A1001 (IPVM test). Now, Axis has released its second...
Hikvision 12MP Fisheye Camera Tested (DS-2CD63C2F-IV) on Jun 14, 2018
Hikvision's DS-2CD63C2F-IV is their flagship panoramic camera, with a 12MP imager, 15m integrated IR, smart codec, and more. We tested the 63C2 in...
Four Major Outdoor Camera Install Problems on Jun 14, 2018
Over 140 integrators told us the top four camera installation mistakes that lead to unexpected problems and failures. Their comments often...
Security Sales Course Summer 2018 on Jun 14, 2018
Based on member's interest, IPVM is offering a security sales course this summer. Register Now - IPVM Security Sales Course Summer...
China Public Video Surveillance Guide: From Skynet to Sharp Eyes on Jun 14, 2018
China is expanding its video surveillance network to achieve “100%” nationwide coverage by 2020, including facial recognition capabilities and a...
IPVM For PR / Marketing People on Jun 13, 2018
This post helps PR and Marketing people understand and productively work with IPVM (as much as possible given our independent, often critical,...
Avigilon H4 Multi-Sensor Adds 32MP, H.265, Analytics on Jun 13, 2018
Avigilon has announced the H4 Multisensor, the successor to their repositionable multi imager line, adding features like H.265, integrated IR,...

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