Washington: Wireless product company Zebra Technologies will acquire enterprise business of Motorola Solutions for $3.45 billion in an all-cash deal.
“This acquisition will transform Zebra into a leading provider of solutions. It positions Zebra as a leading technology innovator, with the accelerating convergence of mobility, data analytics and cloud computing,” Zebra’s CEO Anders Gustafsson said in a statement.
Zebra, which recorded sales of $1 billion in 2013, provides technology solutions like barcodes, smart tags that are used for asset or product tracking in places like shopping malls, hospitals etc.
The acquisition will be funded through about $200 million of available cash on hand and $3.25 billion that is fully committed to be raised through a new credit facility and the issuance of debt securities, the statement said.
The deal was approved by the Boards of Directors of both companies and is subject to customary closing conditions including regulatory approvals. It is expected to be completed by the end of 2014. Approximately 4,500 employees are expected to join Zebra upon completing this transaction.
