Motorola Buys Symbol for $4B (9/19)
Tuesday, September 19, 2006 | Comments
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 about $3.9 billion on a fully diluted basis. As of June 30, Symbol had about $200 million of net cash. Symbol manufactures rugged mobile computing, advanced data capture, radio frequency identification (RFID), wireless infrastructure, and mobility management. Symbol has a strong partner network and expertise in key verticals including retail, travel and transportation, manufacturing, wholesale distribution, and healthcare. Motorola said the acquisition complements its vision to deliver seamless mobility solutions to the globe. 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.

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