Zebra has announced the completion of acquisition formalities of Motorola Solutions’ enterprise business for $3.45 bn in cash. The transaction was funded with $200 mn of cash on hand and $3.25 bn in new debt.
"This transformative acquisition creates one company with unparalleled capabilities and leading global brands in our industry. Our scope and scale make us a more strategic business partner to our customers. We are well positioned to serve our businesses with solutions and services that help them achieve greater visibility for better enterprise asset intelligence. Our efforts are supported by superior global go-to-market channels and the most talented people in the industry. Together, we can provide the building blocks of Internet of Things solutions, as customers worldwide increasingly take advantage of data analytics and mobility to improve business performance," stated Anders Gustafsson, Zebra's CEO.
"With the successful close of this transaction, Motorola Solutions is now singularly focussed on the very core that our company was founded and built upon - a business that continues to help build safer cities and thriving businesses around the world through innovative mission-critical communications solutions," stated Greg Brown, Motorola Solutions chairman and CEO.
As part of the deal, approximately 4,500 Motorola Solutions employees from locations throughout the world will transfer to Zebra.