Motorola completes acquisition of Symbol Technologies

Date: 11 January 2007
(ICT World)
Motorola has completed its acquisition of Symbol Technologies. The transaction has a total equity value of approximately $3,9bn on a fully-diluted basis. Symbol will be the core of Motorola's enterprise mobility business.

Motorola says that it will now offer a broad array of products and technologies that enable enterprise customers to have access to business-critical information any time, anywhere.

As announced on September 19, 2006, the two companies signed a definitive merger agreement under which Motorola has now acquired all of the outstanding shares of Symbol common stock. The transaction was completed following approval of the merger by Symbol shareholders at a special meeting of shareholders. Symbol now becomes a part of Motorola Networks & Enterprise, a business with a combined revenue of $13bn for 2005.

By combining our complementary technology portfolios, domain knowledge, sales channels and customer bases, the Motorola enterprise mobility business aims to provide real-time technology solutions for customers, both inside and outside the four walls of their enterprise, says Greg Brown, president of Motorola Networks & Enterprise.

Motorolas enterprise mobility business is intended to address the entire spectrum of enterprise mobility needs from the shop floor to the corner office, providing workers with access to information out in the field, in the factory, at cash registers, at a patients bedside and throughout the supply chain.

The enterprise mobility business will offer a device portfolio ranging from mobile office devices like the Motorola Q to rugged mobile and wearable computers from Symbol, Brown adds. The new business will deliver enterprise wireless infrastructure (WLAN), field network solutions, barcode scanning, radio frequency identification (RFID) solutions and network design and management software, including security applications.

Sal Iannuzzi, former president and CEO of Symbol, will serve as president of the new Motorola enterprise mobility business. The business will be based at the former Symbol headquarters building in Holtsville, N.Y., and will utilise resources throughout Motorola.