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Avigilon Acquires Video Analytics Patents

01/21/2015

Avigilon acquires strategic intellectual property and continues to build upon its industry-leading video analytics patent portfolio

VANCOUVER, Jan. 21, 2015 /CNW/ - Avigilon Corporation ("Avigilon") (TSX:AVO), a leading global provider of end-to-end security solutions, today announced that it has completed the acquisition of 96 US and international patents and 25 US and international patent applications (the "Patents") from four unrelated vendors for aggregate cash consideration of US$13,375,000.

Avigilon acquired the patents in separate transactions with each of the following entities: Behavioral Recognition Systems, Inc., FaceDouble Incorporated, ITS7 Pty Ltd., and VideoMining Corporation. The Patents relate to various video analytics capabilities, including emotional and attentional response measurement, in-store object tracking and behavioural analysis, object tracking and anomaly detection, video segmentation and metadata generation, user interfaces, and image classification and retrieval over wireless networks. Other notable fields covered by the Patents include network camera system-on-a-chip and remote security camera programming.

With the acquisition of the Patents, and following Avigilon's recent acquisition of ObjectVideo, Inc.'s entire patent portfolio and patent licensing program, Avigilon holds 213 US and international patents and 215 US and international patent applications.

"The future of the video surveillance industry is in video analytics and the Patents cover sophisticated technologies in this area," said Alexander Fernandes, Avigilon's founder, president, CEO and chairman of the board. "These strategic purchases open up great opportunities for our business, give us freedom to operate, and expand the scope of our new patent licensing program. It is yet another proof point that Avigilon is leading the way into the future of the video surveillance industry."

About Avigilon
Avigilon Corporation is defining the future of protection through innovative end-to-end security solutions. Avigilon's industry-leading HD network video management software, megapixel cameras, access control and video analytics products are reinventing the security market. Information about Avigilon can be found at www.avigilon.com.

Forward Looking Statements

Certain statements contained in this news release, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should' and similar expressions, and include, without limitation, statements respecting Avigilon's areas of planned growth and spending. Such statements are not guarantees of future performance and are based on management's expectations and assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances. Management has based these statements on estimates and assumptions that they believed were reasonable when the statements were prepared, including, without limitation, assumptions regarding the significance of video analytics to the future of the surveillance industry, availability and amount of any future revenue streams, and the overall impact of the Patents' acquisition on Avigilon's future operations. Actual results could be substantially different due to the risks and uncertainties associated with and inherent to Avigilon's business. Important risks that could cause such differences include, but are not limited to, the direction in which the surveillance industry moves, the ability of Avigilon to implement, license, and/or monetize its newly-acquired intellectual property, the enforceability of intellectual property rights in certain jurisdictions, the length of sales cycles, rapid technological advancement, competition, the availability of critical inputs, foreign exchange rate occurrences, and doing business in foreign countries. Additionally, differences could arise due to events that are announced or completed after the date of this news release, including mergers, asset and corporate acquisitions, other business combinations, and divestitures. More information about the risks and uncertainties affecting Avigilon's business is provided in the "Risk Factors" sections of each of Avigilon's final short form prospectus dated March 31, 2014 and Annual Information Form dated March 28, 2014; the foregoing documents are available under Avigilon's profile on SEDAR at www.sedar.com. Although Avigilon has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements or information. Avigilon undertakes no obligation to reissue or update any forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement.

SOURCE Avigilon Corporation

Investor relations: Dennis Fong, Avigilon Corporation, T: (604) 629-5182, Ext 2515, dennis.fong@avigilon.com; Media relations: Stephanie Von Zuben, Avigilon Corporation, T: (604) 629-5182, Ext 2206, stephanie.vonzuben@avigilon.com