Motorola To Acquire Symbol Technologies
Motorola and Symbol Technologies announced today that the two companies have signed a definitive merger agreement, under which Motorola has agreed to acquire all of the outstanding shares of Symbol for $15 per share in cash. The transaction has a total equity value of approximately $3.9 billion.
Symbol is a leader in designing, developing, manufacturing and servicing products and systems used in end-to-end enterprise mobility solutions featuring rugged mobile computing, advanced data capture, radio frequency identification (RFID), wireless infrastructure and mobility management.
“Motorola and Symbol share a common vision of providing enterprise mobility solutions. Symbol’s world-class product platform complements Motorola’s vision of seamless mobility and will be the core of Motorola’s enterprise group,” said Greg Brown, president of Motorola’s Networks and Enterprise business. “By combining our adjacent assets, expertise, customer and supplier bases and industry-leading products, we will together be a leading player in enterprise mobility. We can also deliver significant value to both our customers and stockholders.”
The acquisition of Symbol complements Motorola’s vision to deliver seamless mobility solutions to the globe. Motorola’s Networks and Enterprise business has more than 65 years of experience in meeting the mission-critical requirements of public safety, government and enterprise customers worldwide. This acquisition strengthens Motorola’s breadth of product solutions and introduces an extensive array of experienced channel partners to provide our seamless mobility experience to the enterprise.
Upon completion of the transaction, Symbol will become a wholly owned subsidiary of Motorola and will be the cornerstone of Motorola’s Networks and Enterprise business. Motorola intends to maintain Symbol’s Holtsville, N.Y. headquarters, which will be the core of Motorola’s global enterprise mobility business and serve as a center of excellence.
Symbol is a Palm OS licensee and uses the Palm OS in several of its mobile computers including the SPT1550 and SPT1800 handhelds.
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