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United Kingdom,United States : ZEBRA TECHNOLOGIES buys MOTOROLA'S enterprise business in all-cash deal for $3.45 BILLION [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Motorola Solutions has agreed for the sale of its enterprise business to enterprise asset intelligence company Zebra Technologies in an all-cash deal worth $3.45 billion. Motorola's enterprise business, with about $2.5 billion in sales, is an industry leader in mobile computing and advanced data capture communications technologies and services. Zebra stated that it will financed the acquisition with around $200 million in cash and $3.25 billion to be raised through a new credit facility and the issuance of debt securities. Both the companies boards of directors have approved the acquisition, but still it seeks regulatory approvals. The transaction is scheduled to be closed by the end of this year, following which Zebra will enter the segment where Motorola's Enterprise business competes and reinforce its position in key industries such as retail, transportation and logistics, and manufacturing and serve upto 95% of the Fortune 500. Anders Gustafsson, Zebra's CEO said, This acquisition will transform Zebra into a leading provider of solutions that deliver greater intelligence and insights into our customers' enterprises and extended value chains. The Enterprise business will generate significant value for our shareholders by driving further product innovation and deeper engagement with our customers and partners. It positions Zebra as a leading technology innovator, with the accelerating convergence of mobility, data analytics and cloud computing. Greg Brown, Motorola Solutions chairman and CEO said, Our enterprise business is an ideal fit for Zebra. This transaction will enable us to further sharpen our strategic focus on providing mission-critical solutions for our government and public safety customers. Upon closing of the transaction, we intend to return the proceeds to our shareholders in a timely fashion. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info, an Albawaba.com company |