IndigoVision’s board has recommended that shareholders accept the offer issued by the American electronics firm, with investors who hold 56.6% of IndigoVision’s shares having already agreed to support the deal.

Earlier this month, IndigoVision reinstated its dividend after what chairman Max Thowless-Reeves called a “significant turnaround” for the company. Motorola have confirmed that this payout would be cancelled if the takeover deal is approved.

Motorola will pay 405p for each share in the company, representing a 129% premium above Monday’s closing price of 177p.

John Kedzierski, senior vice president, video security solutions, Motorola Solutions, said: “Motorola Solutions is pleased to have reached agreement on the terms of a recommended cash acquisition of IndigoVision, a UK-based provider of end-to-end video security solutions.

“We share IndigoVision’s commitment to providing next-generation, end-to-end video security solutions that enhance safety, security and efficiency. IndigoVision’s end-to-end offering, global presence and customer base will complement our existing and growing presence in video security and analytics.”