Thursday, June 14, 2012

Motorola Solutions to Acquire Psion

Motorola Solutions agreed to acquire Psion Plc., a supplier of ruggedized mobile devices, for 88 pence (US $1.36) in cash per Psion share for an enterprise valued of approximately $200 million.

Psion, which is based in London and has operations in Toronto, has been a pioneer in ruggedized mobile computing products and their application in industrial segments around the world. The company was founded in 1980 and was a pioneer in personal digital organizers but exited the consumer market in 2001. It current has approximately 830 employees, customers in more than 50 countries and delivered 2011 revenues of £176 million (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.�?