Fernandes said that Avigilon will be retaining the majority of RedCloud’s staff with the exception of the company’s CEO and board of directors who have tendered their resignations. RedCloud’s founder Terry Neely, who also serves as the company’s president and chief technology officer, will continue to lead the access control development team.
Fernandes characterized this as an "opportunistic/strategic" acquisition for Avigilon and indicated that the company remains primarily focused on organic growth.
"In the short term, we don’t have any acquisition targets on our radar screen right now. Our core business is HD video surveillance and we remain focused on our core business," Fernandes said. "We felt that access control would be complementary to what we do. As a public company, we get a great deal of people coming to us unsolicited offering their businesses for sale. For any number of reasons, a lot of them don’t make sense, but every once in a while I would supposed that it is quite likely that there are other businesses along the lines of access control, analytics, intrusion detection, PSIM companies or things of that nature that are complementary to what we do and may very well make sense for us in the future, but that is not our primary objective."