Motorola to buyout Symbol Technologies

Motorola has signed a merger agreement to purchase Symbol Technologies, the manufacturer of mobile-computing, advanced data-capture, RFID, wireless-infrastructure and mobility-management products. Motorola has agreed to acquire all of the outstanding shares of Symbol for $15 per share in cash. The transaction has a total equity value of approximately $3.9 billion on a fully-diluted basis. As of June 30, 2006, Symbol had approximately $200 million of net cash.

"Everything is going digital, and everything digital is going mobile—this is especially evident in the way businesses are run today. 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," explains Ed Zander, Motorola chairman and CEO.