Motorola (Schaumburg, Ill.) and Symbol Technologies (Holtsville, N.Y.) have signed a $3.9 billion acquisition agreement. The purchase reportedly reflects Motorola's desire to deliver more seamless mobility solutions. Symbol designs and manufactures rugged mobile computing devices used in data capture, RFID, wireless infrastructure and mobility management applications. The acquisition strengthens Motorola's product offerings in these areas and adds an array of new channel partners.
"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," said Motorola Chairman and CEO, Ed Zander, in a prepared statement.
Upon completion of the transaction, Symbol will become a wholly owned subsidiary of Motorola as part of its Networks and Enterprise business. Executives say that they intend to maintain Symbol's headquarters in Holtsville, N.Y. The acquisition is subject to regulatory review and Symbol shareholder approval. It is expected to close in late 2006 or early 2007.