Motorola says it has agreed to acquire all of the outstanding shares of Symbol for $15 per share, in a cash transaction valued at approximately $3.9 billion.
Symbol's recently introduced Windows Mobile-based data-collection handhelds include the
MC70 (shown top of page) and
MC50 (shown at left). Recently introduced mobile data-collection devices based on Windows CE, meanwhile, include the
MC3090 (shown at right) and the
MC1000.
Symbol also manufactures devices such as the
VC5090 vehicle/fixed mount computer (shown at left), and the RD5000 mobile RFID reader (shown at right), both of which run Windows CE embedded OSes.
Symbol has a strong partner network, and possesses "deep domain knowledge and expertise" in key verticals including retail, travel, and transportation, manufacturing, wholesale distribution, and healthcare, the companies said in a statement.
Motorola CEO, Ed Zander stated, "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 that matches the world people enjoy at home and at play."
Symbol CEO Sal Iannuzzi added, "We believe this is an outstanding transaction for our stockholders, associates, customers, and partners. Motorola is at the forefront of mobile communications and enterprise solutions technology, making it the ideal partner for Symbol."
According to Motorola, Symbol will become a wholly owned subsidiary upon completion of the transaction and will form the basis of Motorola's Networks and Enterprise business unit. The acquisition is subject to customary regulatory approval and the approval of Symbol's stockholders, and is expected to be completed in late 2006 or early 2007.
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