Motorola to acquire Symbol
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Manufacturing News, Source : The Manufacturer US
Published : 04 Oct 2006 16:40
Consumer-led Motorola goes enterprise
Motorola with its pending $3.9 billion purchase of Symbol Technologies will reach into the enterprise. The two companies have signed a definitive merger agreement, under which Motorola will acquire all outstanding shares of Symbol for $15 per share.
Symbol is a great purchase for Motorola’s strategy – the brand is ubiquitous and deeply embedded. Symbol is a leader in designing, developing, manufacturing and servicing end-to-end enterprise mobility solutions featuring rugged mobile computing, advanced data capture, radio frequency identification (RFID), wireless infrastructure and mobility management.
Motorola Chairman and CEO Ed Zander explains the strategy: "Everything is going digital, and everything digital is going mobile - this is especially evident in the way businesses are run today. Motorola and Symbol share the same vision of a digital, mobile world for enterprises… 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.”
Zander also foresees significant value for stockholders: in addition to Symbol’s world-class product portfolio and intellectual property, Motorola will gain a strong partner network in such key verticals as retail, transportation, manufacturing, wholesale distribution and healthcare.
Symbol as well seems enthused, with President and CEO Sal Iannuzzi also citing shareholder value. Symbol as well may be tiring of the perpetual battle for RFID dominance. 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.
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