First Up
Jim: Welcome to August. Be sure to join our BostInno friends on Aug. 13 for a discussion on diversity and inclusion in Boston’s startup ecosystem. RSVP for the free virtual event here.
Let's kick it...
The Big One
A breakdown on the day’s biggest Inno story.
Jim: Motorola Solutions just scooped up a California video security company in a nine-figure deal. Contributor Ben Miller has more.
Ben: Motorola Solutions announced that it has purchased Pelco, a Fresno, California, video security company, for $110M.
Chicago-based Motorola Solutions said Pelco designs, develops and distributes video technology, including video security cameras and video management system software.
The purchase comes about one year after Motorola Solutions purchased WatchGuard of Allen, Texas, which designs in-car video systems, body-worn cameras, evidence management systems and software, for an undisclosed price.
Earlier last year, Motorola Solutions acquired VaaS International Holdings, a company that makes AI-enabled cameras and software for license plate recognition and analysis, for $445M in a cash-and-stock deal.
In 2018, Motorola Solutions paid $1B in cash for Avigilon, a Vancouver, Canada-based security camera company that makes technology used in a variety of industries, including banking, health care, airports and casinos.
Motorola Solutions said it has spent $3.3B in acquisitions since 2016. The company, which makes communications devices, command center software, and video security and analytics products, reported annual sales of $7.9B last year.
Read more: Motorola Solutions buys California video security company for $110M
Making Moves
Inside the people, companies and organizations making moves in Chicago.
Jim: The coronavirus has taken a major toll on Airbnb bookings in Chicago. Airbnb bookings fell 46% in June compared to the same month last year, according to Crain's. But Airbnb hosts in nearby vacation destinations like Lake Geneva and Door County in Wisconsin are fairing much better, as some hosts in those areas are seeing their best year ever. More here.
Katherine: Recreational marijuana sales topped $60M in July, resulting in record sales for the third month in a row. In total, state dispensaries have seen $300M in sales since cannabis became legal in Illinois in January. More here.
Jim: Apervita, maker of a health care collaboration platform, announced that it hired Rick Ratliff as its chief commercial officer. Previously, Ratliff served as President of Network Services at ConnectiveRx. More here.
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