Milestone CEO Book: Why He Aborted the IPO and Chose Canon

Author: John Honovich, Published on Sep 15, 2015

Milestone's CEO just published a 205-page book titled 'Business Magnetism'.

Why? No idea. Would assume he had better things to do...

The first 150 pages are painful, with statements like:

"They realize the rarity of this opportunity, and feel the pressure to succeed, but delving into this unchartered territory is also liberating."

and:

"As I go about my daily life, I try to exemplify Kierkegaard’s idea by never becoming complacent and always challenging the status quo."

One of the ways he did that was:

"In a meeting which is likely to be difficult or tense, I equip the room with a small pillow. When people feel frustrated or angry, I explain, they should feel free to release that tension by yelling loudly into the pillow"

But right after teasing about the original ending of the book, it starts getting very interesting as he explains the issues in the IPO process and why it was aborted in favor of choosing the Canon acquisition, including how Avigilon hurt their IPO prospects.

*********'* *** **** ********** ***-******** ****** '******** *********'.

***? ** ****. ***** ****** ** *** ****** ****** ** do...

*** ***** *** ***** *** *******, **** ********** ****:

"**** ******* *** ****** ** **** ***********, *** **** *** pressure ** *******, *** ******* **** **** *********** ********* ** also **********."

***:

"** * ** ***** ** ***** ****, * *** ** exemplify ***********’* **** ** ***** ******** ********** *** ****** *********** the ****** ***."

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

"** * ******* ***** ** ****** ** ** ********* ** tense, * ***** *** **** **** * ***** ******. **** people **** ********** ** *****, * *******, **** ****** **** free ** ******* **** ******* ** ******* ****** **** *** pillow"

*** ***** ***** ******* ***** *** ******** ****** ** *** book, ** ****** ******* **** *********** ** ** ******** *** issues ** *** *** ******* *** *** ** *** ******* in ***** ** ******** *** ***** ***********, ********* *** ******** hurt ***** *** *********.

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

Problems **** *******

************* ***** *** ********* *** ** ***. ** ******* ******* ** ****, ******** *** ***:

"********** **** *********, *** * **** **** ******* **** ****** wasn’t ** *****. ** ****’* *********’* *****. ** *** ************ to *** ************ ********** ***** ** ************* **** ** *** built *** ******* ****."

*************

*****, *********'* *** ****** *** ******** ** *** ******:

"[*****] ******, *** ********** ***** ** ****** ************, *** **’* constantly ** ***** ******** ** ***********. ** ** ******* ******, it ****’* ********* * *** ******* ******* **."

**** ** * **** *******, ** **** ******** *** **** can ****** **. *** **** ****** ** ***** ** **** numbers *** *** ***, ******** *** **** *** *** **** will ****, ******** **** ********** *** ***** ******.

Showing *****

****** *** **, ***** ************ ******** *** ********* *******, *********'* CEO **** ** ** ********* ** *******:

"****’* ** ********, “*** ******** ****** **** **** * *** of *****.” **’* ******* ********* ** *** ** ** ********* in *** *****. *** **** **’* ******* ** **** *** Australians **** ‘**** ***** ********’ – ******* **** *** ****** that ****** ******* ** *** *****."

Avigilon *** ****** **** *********

** *** *** *** ** *******, *********'* ******* *** *********'* valuation, ** *** *** ********:

"**** **** **** ** ******* ******* ** ******** ***** ***** valuation, *** ** **** **** **** ******* ** * ***** American ********** ** **** (***** ***** ***** ** *** **** was ********* *********), *** ******** *** ********. ** **** **** **** **** **** ***** ****** ** lower ***** ********* ** * ****** ** **** ****** ********."

********'* ****** *** ** *** **** *********** *** ********** *** start ** ********'* ******* *** ****** * **** ** ********* the ************** ** * ********* ***, ** * ******* ******** stock ***** ****** ** * ****** ********** *** *********'* *** price.

Lack ** ***

*** ************ ******** ** ********* ******* ** *** **** *** licensing, ***** ***** ** ***** ********* **** ************ **********. *** bankers ****** ** ********* / *** ************ ** **** ********* revenue ***** ********* *** ********* ** **:

"**** ******, *** ***, ****** **** ******, *** ***** *** ground. *** ******* **** ********** **********, ********** **** **** **** going ** *** *** ** ******* **** *********** ***** ‘********* revenue’, *** ** **** *******, **** ***** ****. *******’ ******** was ** *** ***** **** ** ** ******’* ******* **** information, **** ** ******’* ***** *** * ****** *********."

Canon *** * *** *** ** ****

** ********, ***** ******* * ******* ****, ***** **** ***** not **** ** **** ****** *** ***** **** *** **** they **** ***** (****** ****** *** ***** ******** ****** ********** - ************'* **** ********** ********).

******** ****** ******** ** *** *** **** *** ** *** $400 ** $*** ******* *****, ***** ***** ** * ********* ~5x *********'* *******. ** ******, *********'* *** *** *** ******** the ***** *** *********** ***** *** ******** *** **** **** than * **** *****, ** ***** *** ** ********* ** it *** * ****, ********* ****.

The ******

*********'* *** ***** *** **** ******* ***** *** ******. ** our **** ****, ********* *** ***** ** '*** ***** ** ****** ********' *** the ***** ******* '*****.*'.

Comments (12)

***, **** ** *********'* *** **** ******* ****:********* ***** ****** *** ****** *********(****).

**** *.*? ** **** * ********* ** **-***, **-***, ***?

********* ** *********'* ***: "******* ********* **** ** ** **** *** ****** * ********. I **** **** **** *.*"** ******* **** **** ** "****** ** *********** ****"

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

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

*** **** ***** *** ******** * ****** *** **** *******?? Maybe **'** ****** ***** *** ****** ** *******.

Scream into Pillow

"***** **'** ****** ***** *** ****** ** *******."

******* * ****** ** *** ***** **** ** *** **** RMR?

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

*****'* ***** ******* *****'* **** **** **** ******* ******-********:

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

***** ***** *** **** **** **** ******* ******** *** ***** pillows? ***** ***** ***** ***** ** **** ****.

****'* *** ****** ** ******* **, *** **** ******* "***********" in *** ****:

*** **** **** **** ** *** ******** *****, * ***** number ** ******** ******** ***** **** ** ********** ** ****,and *** ** *** **** ********* ******** *** *** **** *** *** **** *****. I needed to nip the speculation in the bud as it risked overwhelming the message of the conference, which was the work we were doing with our partners. We put together a statement, approved by our banking team.

**** ** **** * **** *******: “You **** **** ****** **** *****’* **** **** ** *** ******* **** ** *** ** *** ********* ******** ******** ** *** ********. As you can see they are asking a question about us –is Milestone going to IPO? “Milestone is a successful company with a 17-year solid track record in our business. Our primary focus is the continued development of our business but we are also lucky enough to be at a stage in our growth where IPO is one of the options available to us. But it’s just one option and no decision has been made....

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

****** *** ***** *** ** ******* ******* ******, ********** ***** how **** ****** ** *** ******** ****** **** ********’ ****. So *** ***** **** ****** ** *** ***, *** ******’* populate * ***-****-****’ ******** **** **** ** ********** ****** ** candles.

******** ***** **** **** ****' ******* **** **** ********** *** damming, *** *** *** ****** * ***** **** ** * certain ****** ** *** *****:

“**’** *** ********* *** ** *** **** ****, ** *** weeks ** *** ******.An *** ** *** ** *** ***** ** **** ****. We’re focusing on a lot of things that pertain to our business structure at this time. Period.” Taking advantage of attending MIPS, Thinggaard ********** **** **** **** **** ** ******* ****** ******** *** *** ** *** ***** and that everything a person might read on a certain blog just isn’t true.

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

*********, ***********, **** ** * ********* **** ** *** ****. It ******** ******** ****** ** *********'* *** ****** **** **:

************ ** *** ** *** **** ****** ** **** ** say *****-*****, ** **** *****-*****. ** ***** ***** ***** ********* software, **** *** ****** ** ** **: ** ***** * distributor, ** ****** ** ** *** ** ***** ********** ***********.They ***’* ****** **** ** ******* ********* ** **** *** ****.

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

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Related Reports on Financials

ADI To Be Spun Out of Honeywell on Oct 10, 2017
Honeywell has announced it will spin off ADI and its Home products division into a new public company. This is a big move for the mega-security...
Knightscope Financials Reveal Huge Increase In Expenses And Incorrect Accounting on Oct 02, 2017
Knightscope's H1 2017 financials are out, in the midst of their ongoing crowd funding approaching $17 million. In this note, we analyze...
FLIR Security Business Struggling on Aug 02, 2017
FLIR's security division is an ambitious mix of FLIR's core thermal business plus multiple acquisitions, including of retail / consumer offering...
Anixter - Falling Video Prices on Jul 26, 2017
Falling video prices are such a concern that it has become a notable topic for Anixter's financial results and Anixter's executives. In this...
Hikvision Stock Surges - Doubling In Past Year on Jun 29, 2017
Hikvision's stock, on the China Shenzhen stock exchange, has more than doubled in the past year, vaulting the company's worth to an astounding (for...
Manufacturer Revenue Directory on Jun 05, 2017
This report contains data on the revenue of 32 security manufacturers, trend analysis of whether they are gaining or losing ground and commentary...
Avigilon Shifts Strategy To Maximizing Profitability (Q4 2016 Results) on Mar 01, 2017
Avigilon had previously been known for big spending, hiring a large sales force and throwing lavish partner parties at tradeshows like ISC West....
FLIR Security Revenue Reviewed on Oct 31, 2016
With acquisitions of Lorex, DVTel and ISD, adding to their core thermal offerings, FLIR has been building up its presence in the security / video...
Hikvision Declares No Subsidies But Financials Show $189 Million Subsidies on Oct 13, 2016
Hikvision alleges that they receive no subsidies but their own financial records show $189 million of subsidies in 2015. Hikvision 'overseas' has...
Avigilon CEO Aims For $3 Billion on Oct 05, 2016
Despite Avigilon's stock price collapse, management turnover, decelerating growth and net losses, Avigilon CEO shows that he is optimistic as...

Most Recent Industry Reports

Amazon Key In-Home Package Delivery Examined on Nov 21, 2017
Interesting idea or invitation for criminals to rob you? Amazon's recent announcement of Key, a service that will help manage visitors, welcoming...
Top Maglock Provider Warns Against Using Maglocks on Nov 21, 2017
Do not buy my company's product. It sounds strange indeed, but a senior Allegion consultant stated that maglocks should not be used in common...
CBR vs VBR vs MBR - Surveillance Streaming on Nov 21, 2017
How you stream video has a major impact on quality and bandwidth. And it is not simply CODEC choice (e.g., H.264 vs H.265). Regardless of the...
Dahua Hard-Coded Credentials Vulnerability on Nov 20, 2017
A newly discovered Dahua backdoor is described by the researcher discovering it as: not the result of an accidental logic error or poor...
Panasonic Unified Surveillance Strategy Analyzed on Nov 17, 2017
Panasonic is now a "Unified Surveillance" offering, as their ASIS 2017 booth proclaimed: Looking to make a comeback in the security industry,...
Amazon Cloud Cam Is Poor (Tested) on Nov 17, 2017
Retail behemoth Amazon has entered the surveillance market with the Amazon Cloud Cam, the eyes of its just-announced Amazon Key delivery...
Nest Secure Alarm System Tested on Nov 16, 2017
Google's expansion continues, this time into home security with their Nest subsidiary's move into alarm systems. They paid more than a...
Dahua Forbes 'Next Web Crisis' Vulnerability Dispute on Nov 16, 2017
The buffer overflow vulnerability in Dahua products is not in dispute, in fact we covered it when it was first published. What is in dispute is...
Isonas Cofounders Split, Launch Partner/Competitor on Nov 16, 2017
Breaking up is hard to do, especially when door access security is at stake. But that is exactly what has happened at Isonas. Senior employees...

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