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Motorola Solutions Offers to Buy UK Based Psion for $200 Million
Published on:
Motorola Solutions has announced that it is buying the venerable UK PDA manufacturer, Psion for US$200 million in cash.
Psion has been developing handheld computers since 1980 and developed the software that was later bought by Nokia as the core of its Sybmian OS. Psion has approximately 830 employees, customers in more than 50 countries and delivered 2011 revenues of approximately US$273 million.
Greg Brown, chairman and CEO of Motorola Solutions, said: "Psion is a compelling opportunity to strengthen our industry-leading, mobile-computing portfolio with ruggedized handheld products and vehicle-mount terminals that will deepen our presence in the global markets in which we compete."
Motorola Solutions expects to realize cost and revenue synergies resulting in margin expansion opportunities and expects the transaction to be accretive to earnings per share on a non-U.S. GAAP basis in the first full year following completion and on a U.S. GAAP basis in the second full year following completion.
Organization and Management
Upon completion of the acquisition, Motorola Solutions will combine Psion within Motorola Solutions' Enterprise Mobile Computing (EMC) business, reporting to Girish Rishi, corporate vice president, EMC.
Tags: [motorola solutions] [psion] [UK]
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