"Everything is going digital, and everything digital is going mobile-this is especially evident in the way businesses are run today."
So said Ed Zander, CEO and chairman of Motorola in a statement accompanying the announcement that his company was acquiring Symbol Technologies of Holtsville, N.Y. The value of the purchase is estimated at about $3.9bn.
"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," Zander continued. "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. We are confident that this transaction will create significant value for stockholders by establishing a strong presence for Motorola in attractive adjacencies with enormous potential for sustained growth."
Motorola has a wide array of wireless and broadband communications products. Symbol, which will become a wholly-owned subsidiary of Motorola, specializes in design, development, manufacture and servicing of products and systems used in end-to-end enterprise solutions featuring rugged mobile computing, advanced data capture, RFID, wireless infrastructure and mobility management. Symbol promotes itself as a leader in such verticals as retail, travel and transportation, manufacturing, wholesale distribution and healthcare.
"Motorola and Symbol share a common vision of providing enterprise mobility solutions. Symbol's world-class product platform complements Motorola's vision of seamless mobility and will be the core of Motorola's enterprise group," said Greg Brown, president of Motorola's Networks and Enterprise business. "By combining our adjacent assets, expertise, customer and supplier bases and industry-leading products, we will together be a leading player in enterprise mobility. We can also deliver significant value to both our customers and stockholders."
Visit www.motorola.com and www.symbol.com.
Timely, incisive articles delivered directly to your inbox.