Last month, video surveillance solutions manufacturer Avigilon announced plans for an initial public offering in Canada where the company is headquartered.
In a preliminary prospectus filed by the company in each of Canada’s provinces, Avigilon said that it believes it is a position to take advantage of the market shift from analog and hybrid surveillance systems to full digital high-definition network solutions.
"In order to do so, Avigilon plans to undertake several initiatives, including increasing brand awareness, effectively pricing its products, targeting new market segments, developing new products and improving current products," the company said in the prospectus.
In addition, the company said that it plans to increase its sales force and its network of integrators and dealers through advertising, attending industry tradeshows and developing new products and features.
"Avigilon plans to continue creating new products and to improve and enhance its existing hardware and software. Avigilon also plans to invest in additional software, hardware, development tools and equipment, including specialized computer systems, to support new employees and fund new products developed through to production," the company said of its strategy in the prospectus.
According to the prospectus, Avigilon’s revenue has experienced a compound annual growth rate (CAGR) of 148 percent since its first full year of sales in 2008 up to and including 2010. In a statement, the company said the IPO will be underwritten by a "syndicate of underwriters" led by Raymond James and including BMO Nesbitt Burns and GMP Securities.
To read the full preliminary prospectus, visit the Canadian Securities Administrators’ SEDAR filing systems website at www.sedar.com.