Motorola Solutions Completes Its $200 Million Acquisition Of Psion

Posted on Oct 1 2012 - 8:34am by Editorial Staff

Motorola Solutions today announced that the deal done back in June to acquire Psion for approximately $200 million in cash being declared wholly unconditional and closed. The application is being submitted to the London Stock Exchange to delist Psion common stock. Once delisted, Psion common stock will cease trading. The transaction is expected to be accretive to earnings per share on a non-GAAP basis in 2013 and on a GAAP basis in 2014.

Greg Brown, chairman and chief executive officer of Motorola Solutions, said: “We are pleased to announce the completion of our acquisition of Psion, which expands our core Enterprise Mobile Computing business. Psion bolsters our strategic position in important industrial segments such as manufacturing and transportation and logistics, increases our cross-selling opportunities and expands our global enterprise solutions portfolio.”

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