Avigilon's new global headquarters supports fast-paced growth
VANCOUVER, CANADA, Nov. 30, 2015 /CNW/ - Avigilon Corporation ("Avigilon") (TSX: AVO), trusted provider of business intelligence and security solutions, today announced that it has successfully completed the acquisition of a nine-story, 135,000 square foot office building centrally located in downtown Vancouver, Canada. The building was financed through Avigilon's real estate term loan facility; additional details of the transaction were disclosed via news release on February 27, 2015 and April 7, 2015.
"We're pleased to announce the successful acquisition of our new global headquarters, which provides more than double the space we presently lease at a lower financing cost than our current rent," said Alexander Fernandes, Avigilon's Founder, President, Chief Executive Officer and Chairman of the Board. "Avigilon, which has over 1,000 employees, has an ongoing need for expansion as one of North America's fastest growing technology companies."
Avigilon Corporation, trusted provider of business intelligence and security solutions, develops, manufactures, and sells video analytics, network video management software and hardware, surveillance cameras, and access control solutions.
© 2015, Avigilon Corporation. AVIGILON and the AVIGILON logo are trademarks of Avigilon Corporation.
For further information:
Dennis Fong, Avigilon Corporation
T: (604) 629-5182, Ext 2515
Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include any statements (express or implied) respecting: the continued growth of Avigilon and its workforce; the financial impacts of the Building purchase on Avigilon; and the availability of financing options and the costs thereof. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation: Avigilon's revenues and employee base will continue to grow; the financial and other benefits of purchasing the Building will outweigh those of leasing a comparable space; and the current financing options contemplated will remain available to Avigilon on similar or better terms. Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Avigilon's business, as more particularly described in the "Risk Factors" section of Avigilon's Annual Information Form dated March 3, 2015, which is available under Avigilon's profile on SEDAR at www.sedar.com. Material risks and uncertainties applicable to the forward looking statements set out herein include, but are not limited to, unforeseen events, developments or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. 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, 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. Avigilon undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.
SOURCE Avigilon Corporation