Tuesday, September 19, 2006
Motorola Acquires Symbol
Posted by Darius Wey in "NEWS" @ 10:00 PM
"Motorola, Inc. (NYSE: MOT) and Symbol Technologies, Inc. (NYSE: SBL) 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 on a fully-diluted basis. As of June 30, 2006, Symbol had approximately $200 million of net cash. 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. The company’s products and services help customers increase workforce productivity, improve customer service and enhance operational efficiencies by delivering information in real-time, as people, information and assets are on-the-move."
Rugged mobile computing giant, Symbol, is set to become one with Motorola. Both companies create some great rugged handhelds, so it'll be interesting to see what the two combined can come up with in the years ahead.
Rugged mobile computing giant, Symbol, is set to become one with Motorola. Both companies create some great rugged handhelds, so it'll be interesting to see what the two combined can come up with in the years ahead.
