Motorola Solutions and barcode printer Zebra Technologies Corporation revealed entering into a definitive merger agreement reported ET. The agreement stated Zebra’s plans to purchase the enterprise business of Motorola. The deal would be paid in an all cash transaction valued USD3.45 billion.
The acquisition deal would be funded through on hand cash and new credit. The deal was also approved by both company’s board. The transaction would close by the end of 2014 upon satisfying regulatory requirements, said ET.
Anders Gustafsson, Zebra's chief executive officer 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."
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