Zebra Technologies Corporation has acquired Motorola Solutions’ Enterprise business for $3.45 billion. The transaction was funded with $200 million of cash on hand and $3.25 billion in new debt. As a result of this sale, close to 4,500 employees from Motorola Solutions will be transferred to Zebra Technologies.
“This transformative acquisition creates one company with unparalleled capabilities and leading global brands in our industry,” stated Anders Gustafsson, Zebra’s chief executive officer.
Motorola Solutions Chairman and CEO said, “With the successful close of this transaction, Motorola Solutions is now singularly focused 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.”
The combination of Zebra and Motorola Solutions’ Enterprise business will allow Zebra to offer its shareholders and customers the following benefits:
· Industry-leading data capture, mobile computing, specialty printing and asset tracking solutions and services
· Stronger combined platform with multiple growth opportunities
· New and comprehensive product, technology and IP portfolio
· Leading end-to-end solutions across key industries with global reach
· Highly diversified business mix
· Synergies by maximizing efficiencies and scale
· Attractive growth and free cash flow profile
This deal will help Motorola in providing:
· An extraordinarily committed workforce that consistently delivers innovative solutions and is unmatched in expertise and experience
· A growing solutions and services business
· Leadership in next-generation technologies, such as public safety LTE
· Investment in product and systems development
· An unrivaled brand
· Go-to-market and channel strength
· A unique portfolio of intellectual property
The transaction was funded with $200 million of cash on hand and $3.25 billion in new debt.