Motorola To Acquire Symbol Technologies
Motorola Inc. is acquiring Symbol Technologies Inc., a company involved in products and systems used in enterprise mobility solutions that feature mobile computing, advanced data capturing, RFID, wireless infrastructure and mobility management. The transaction is valued at approximately $3.9 billion.
The acquisition complements Motorla’s vision of delivering seamless mobility solutions globally. Symbol’s assets include a world-class product portfolio, valuable intellectual property and a strong partner network. Considered a leader in technology innovation, it boasts of deep domain knowledge in key verticals like retail, travel and transportation, manufacturing, wholesale distribution and healthcare.
“This transaction significantly advances Motorola’s enterprise mobility strategy and is consistent with our focus on building on our already strong intellectual property portfolio and extending Motorola’s seamless mobility leadership,” said Ed Zander, Chairman and CEO, Motorola.
“Symbol’s world-class product platform complements Motorola’s vision of seamless mobility and will be the core of Motorola’s enterprise group. By combining our adjacent assets, expertise, customer and supplier bases and industry-leading products, we will together be a leading player in enterprise mobility,” said Greg Brown, President - networks & enterprise business, Motorola.
After the purchase, Symbol will be a wholly owned subsidiary of Motorola, and its Holtsville, N.Y. headquarters will serve as a center of excellence.
It is expected that the transaction will close by late 2006 or early 2007.
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