Motorola Paid $449 Million for Ava, Calipsa and Videotec Combined (Analyzed)

By John Honovich, Published May 13, 2022, 09:44am EDT (Research)

** *** **** * ******, ******** Solutions *** **** *********** * ****-******* dollars *** * ***** ************ ********* -***($*** *******),*******($** *******), *** ***********($** *******).

IPVM Image

***** ********'* ******** ******** ****** ***** started ** ****, **** **** *** bought ** ********* *** * ***** of $*.* *******:

IPVM Image

*** * ***** ** *********, *** 10 ** ***** ********* **** ******** for $*** ******* **** **** ********* **** *** **** ** **** ($2.8 *******).

******** *** *** ********* *** ***** paid *** *** * ****** ********* in *** ********* ***** *******:

*** ******* ****** *** ************ ** Ava ******** *** $*** ******* *** TETRA ******* *** $*** *******, **** net ** **** ********.********** ** ******* end, *** ******* ******** *******, * leader ** *****-***** ******** ***** ********* for $** *******, *** ********, * global ******** ** ***-****-**** *** ********* proof ******* *** $***, **** *** of **** ********

****:***** ********* *** ******** ** *******'* ******** Digital ***** ******* *** *** ** physical ********.

**** **********, ******** *** *** ******** the ******* ** *** ** *** companies **** ********, ****** * *** months ****** ********* **** ******* ******* ** 2021 *** ******* ** ****** ***** in ****.

** ** ******** ********** ****** ** ******** / ************ Acquisition ********, ******* ****** *** ****** ********* are ******* *** ********** *** ******** over ***** **** **** **** **********, with ******** ********** *********** ****:

**'** ********** ** * ****** ****...

** *** ** ******** ** ******* multiples ** *** ***** ****** ****** rate...

** *** ***** ********** ** *** to ******** ** ******* **** ******** of ****** ****** ****** *** ******** to *** ************

** *** ******** ******* ** **** note, ** ******* ***'* ******** **** this ****, ******** ** *****'*, ******* the ********* *** * ******** *********** of *****, ********** ** ******** *********, risks, *** *** *********** ***** ***** will ******* *** ********.

Ava ******** **** ~$** ******* **** ****

******** *********** ******* *** ** **** ~$20 ******* **** **** ***** ** the *******'* ********** **** "*** ** about $*.** ******** ** *** *** the **** ****."**** ****, *** *** $*.** ** ** cents *** ** $*.** ** .* / *.** ** *.**%. ***** ******** last **** *** $*.*** ******* ** that ********** ** *.**% = $**.*** million. *******, *** *** ******** ********* of *****, ** ****'* *** ** months. ****** ** ******* *** ******** assuming * ***-***** **** *** **** period ****** *** **** ** ~$** million *** *** ****.

*** * ******* **** ***** ** triple **** **** (*** ** ***** expect ** *** ** ***** $** million ** ******* ** ****), ****'* reasonable. ** ********, ***** ******* ** grow ******* ************* **** **** **** and **** * **** ** ** least * ***** **** ** ***'*. Worth ******, ******, **** ******** ** a ******** ******** ** ***** *** Motorola's ***** ************ ******** ************** ** *****'* *****.

Evolv ***********?

** ** ******** **** ******** ***** try ** *** *****, ***** ***** buying ***** *** ******** ****** ********. Motorola ***** *** *****'* ****** *************. Plus, *****'* ****** *** ** **** ~$300 *******, **** **** $*.* ******* and ***** ******* ********* ******** ~$*** million ** **** ** *** ****. If ******** ******* $*** ******* **** would ** * **% ******* **** the ******* $* ***** ***** (****** many ********* **** $** *** ***** a **** ***).

** **** **** ******** ******** ** Evolv ****** **** ** ** ******* marketing **. *** ******** ***** ******* Evolv's *************.

** ** *** **** *** ******** views *** ******* ****** *** ******** that ***** ***** *** ******* **** would **** ** **** **** ** directly. *******, ** *****'* ***** ***** continues ** ******* (**** ****** **% in *** **** ****), ******** ***** be ***** ****.

Incentives *** ******** *********

******** **** ********* ******* ********** **** provided *** **** ******** ******* (******** ours):

  • ********: "****** ********** ***** ** * fair ***** **$4 ******* to certain key employees that will be expensed over a service period of one ****"
  • *******: "*** ******* ****** ********** ***** at * **** ***** **$4 ******* to certain key employees that will be expensed over a service period of two *****"
  • ***: "*** ******* ****** ********** ***** and ********** ***** ***** ** * fair ***** **$7 ******* to certain key employees that will be expensed over an average service period of two *****"

*** * ***** ** **********, **** is **** ******** ****************, ******** *** $*** *******, "*** ******* ****** ********** ***** at * **** ***** **$29 ******* to certain key employees that will be expensed over an average service period of three *****." [emphasis added]

*** **** ** **** ******* ** the ********** *** ********** *** ***** term *** ***. **** ***** *** longer ***** (**** *** ********), ********** else *****, ** * ******* **** for *** ******** ********** **** ** stay.

*** ***, ***** *** **** ****** paid ($*** *******) *** **** *** core **** *** *** * ******** exit, *** ********* *** **** ** Ava's ******* ******* ****** ****** **** later.

Ava ***** **** ********

**** *****, ** ******* **** *** price **** *** *** ** ********** given (*) *** **** ****** ****, (2) ********* *********** ** ****'* *******, *** (*) ** ***** ** well ********** ** * *********** ** direct-to-cloud ******* *** **** ******** (********* at ****** ******* ***** ** *** ****** ****). ********, ******** **** **** *** own ***** ******* (********* ******** ******* enabling ******** ******* ** **** ***) that ***** ** ****** ******* **** Motorola **** ** ******* ******** ** millions ** ******* ** *** ******** in *** **** *** *****.

** ******** **** *** **** *** ***** disclosed, *** ***** **** *** *** selling ** ** ***** **** **** out *** * ************* ****** *********** price * *** ***** **** ***.

Calipsa ***** **** ********

*** *** $** ******* ***** **** and ****** ******* ** *** *** single-digit ********, ** ********, ** **** this **** ** **** *********** *** Motorola ** ** ********** ****. **** of *** ******* ** **** ******* serves * ***** ** * ***** (cloud ***** ******** ** ******** **-**** cameras, **** ******** *** ****** ********** providers). *** ****** ** **** **** will ****** **** ********** **** *** next *** ***** ** **-**** / on-camera ********* *******. *******, ** ******** / ******* *** **** ** ****** features ** *** ***** **** ******** value **** ****** ** ** *** done ******, **** *********** ***** ***** proposition.

Videotec ***** **** ********

*** **** **** *** ******** ** that ** **** *** ******** *********** profits ** ****** (~$** ******* **** ******* **** ~*% net ******) *** ** * **-****-*** *******.

**********, *** ***** ** ***** ******** was *** ****** ** *** * acquisitions, ** **** **** **. *******, Motorola *** ********'* ******* ******** ** they *********** ********* ****** ***** *** business.

*** **** **** ** **** ******** historically *** ********-*********** *** ***** * small ***********, ** ********* ** ****** the ********* ****** ******* ****-************ (****, Bosch, *********, ***.). ******** ********* ***** issues.

** *** ****** *** ******** **** Motorola *** ****** ******** **** *** overall ***** *******, *** *** ** confident ** **** ***** * **** deal *** ********.

Outlook - *** ** *** ***

* ***** **** ***, ** ****, we ****** *** *** *********** ** be *** **** *********** ******* *** Motorola (**** ********** **** *** *** brand ***** **** ****). *** ******** a **** **** *** ******** ** expand **** ******-**-***** ******* *** ** put ******** ** ****** **** ****, Bosch, *** ****** *** ** *** have ** ********** ******** (*** **** be ********* ** *** *** ****, or ****, **** *******).

Comments (4)

** ********, ***** ******* ** **** revenue ************* **** **** **** *** have * **** ** ** ***** 3 ***** **** ** ***'*. ***** noting, ******, **** ******** ** * minority ******** ** ***** *** ********'* video ************ ******** ************** ** *****'* *****.

**** ** ********'* ******* ******** ******** in ***** - *** *** *** this ******* ** ***** ***** *** tanked ***** ********'* ******* **********? *.*. have **** **-********/******** ************* **** *** stock *****'* *****-*** ****** **** **?

Agree
Disagree
Informative
Unhelpful
Funny

***** ********** ******** ***** ** *** SPAC *** ************ ** *** **** / ****. *** **** ******** ******** in ******, ** ***** *** **** a **********. ***** ******** *** * single ***** ****, ********* **** ********* it ** * ******** ********** *** a ***-****** ***.

**** **** **-*:

*********** *********. ** ********** **** *** execution ** *** ****** *********, **** and ******** *********, ***. (“********”), * stockholder ** ****** *****, ******* **** a *********** ********* (*** “*********** *********”) pursuant ** ***** **** ****** ** nominate ** ********** ********** ** ******** to *** ***** ** ********* ** Evolv, ********* ** ** *********** ***** to *** ******* ** *** ******.

************ *********. ** ******** ****, ****, the ******* ******* **** ** ******** equipment ************ *********** ********* **** ********. On **** *** ****, *** *********** agreement *** ******* ** *** ******* and ******** ********************* (*** “************ *********”). Pursuant ** *** *********** *********, **** Kedzierski, ****** **** ********* *** ******* Manager ** ***** ******** *** ****** Control ** ********, ********* ****** ** as * ******** ******** ** ******** our ***** ** *********.

**** **** ***** **** ***** $***,*** worth ** ***** ********:

****** *** **** ***** ******** **, 2021 *** ****, ******* **** ********’* distributor ******** *** $*.* ******* *** $0, ************.

**** ******* (** **** ***), ***** **** ***** $***,*** ***** of ***** ******** (******* **):

****** *** ***** ****** ***** ***** 31, **** *** ****, ******* **** Motorola’s *********** ******** *** $*.* ******* and $*, ************.

**** *** **** ***** **% ** Evolv's ********* ******* *** ***** ** systems, ******** **% ** *** ~*** new ******* ****.

********'* ********* ***** ***** *** ** 2026 (*-**) **** ** **** *** ****** for ****** ****:

***** *** ******** *********, ***** *** Motorola ****** ** ********* ******* ******** agreed ******** *** *************, ********* ***** provided ** ********, **** ******* ***** Express ******** ** ***** ** ****** a ******* ********** ******* *** ********’* exclusive ****** *** ************ ** ***-**** customers ******* ********’* ****** ******* ** channel ********. ******** *** ****** *** to ******, **** ** ********* ********** any ******** ** ******** **** ******* with, ** ******* ************* *** **** function ** *****’* ******** ******** ** products. *** ******* **** ** *** Motorola *********expires ** ******** **, ****. Either party may terminate the Motorola Agreement in the event the other party breaches the agreement and fails to cure the breach within thirty days’ receipt of written notice or immediately upon insolvency of either party. However, in the event that the Motorola Agreement is terminated, both parties have agreed to follow through on contractual obligations already in place with a channel partner for the integrated products for the remainder of the contracted subscription term.

** ******** *** **** **** *** signed ** **** *** ** ********** by ****** **** **** ~* ****** notice:

***** *** ******* *********, *** ****** as *****’* *********** ** *** ***** Edge, ***** ******* *** ******** ********, and ******* *********** *** ******** ** the ****** ****** ** * ***-********* basis *** ****-**** ************ ***** *** end *****. *** ******* ********* ************* renews *** ***-**** *****, ***either ***** *** ********* the Johnson Agreement (i) upon ** ****’ ******* ****** *** *** ****** or (ii) in the event that the other party breaches the Johnson Agreement and fails to cure the breach within 30 days receipt of written notice, provided that each party will follow through on any contractual obligations already in place at the time of termination. However, no orders and associated product subscriptions can be terminated for convenience once Evolv accepts such orders and subscriptions. As a condition of the automatic renewal, JCI must have a marketing plan, including a sales and promotion plan, the development of a sales channel and a forecast of unit sales per quarter.

Agree
Disagree
Informative
Unhelpful
Funny

**** ********'* ***********, ** **** **** considering ****** ***** ********, *** **** Evolv's ******* ***** ***** ****** **** the ********?

** *** ***** ***** ***** *** high (**** ****** **** *** ******** investors) ** ***** **** **** * bunch **** $$ ** **** **** move.

*** ** *** ***** **** **** even **** (*****, ****** **** *** minority *********) ** ***** **** **** less $$ ** **** **** ****.

**** ** **** **** ** ** Motorola ***** **** **** *** ** so, ****?

Agree
Disagree
Informative
Unhelpful
Funny

*** ***** ***** ** *** ***** factor *** **** *** ** ** least *****.

(*) *** *** ***** *****, ********** else ***** *****, ****** **** ***** more ********** ** ********. *** *****, as ***** ** ***** ****** *****, does *** ***** ** ******* *******, so **'* ******** ** ** * prime ****** ** ***** * ****.

(*) **** ******** ****** ** *** fair ***** ** ***** ** * major ******. ** **** **** **** dozens ** ***** ******* *** *** aggressively ********* ** ***** ***, ** Motorola ******* **** ***** ** *****. Given *****'* *** ***** (~$*** ****** cap - *** $*** ******* ** cash), **'* ***** ******** ****** ***** is * **** **** ** **** price.

(*) *** ******* ****** ** **** Evolv ********** *** ******* ************ ***** of *****'* *****. **********, **** ***** the *****'* ***** ** **** ****** than *****'* $*.** ***** ** *** trading ** $**+, ** ****** ***. And ***** ***** *** $*** ******* in ****, **** ** *** **** to **** ** **** *** ******* today.

*** ** ** * **** ** two, *****'* ***** ***** ** ***** at ***** ****** (** *****), ***** might **** * **** **** ******** at * ***** ******** ** *** SPAC *****.

**********, *****'* ******* ** *** *********** expectations ** ***, ***** ** *********** and **** ******** **** ****, ***** growth. ***** ** *** ********* *** a ********** ********, **** ******** ** the ***** *** ************* **** ***** told ********* * **** ***.

*** ******** ******* ** *** *********** evolve (*** *** ********). ***** ** charging * ***** ******* (~$*,*** * month *******). ***** ****'* ******** ** investors, ** *****, ** *********** **** CEIA *** **** ***** ******* ** a ***-**** ***** ** **** **** a **** ** ***** (***** **** ** ***** *******), **** ***** *** *********** ******** on *****'* *********.

Agree
Disagree
Informative
Unhelpful
Funny
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