toggle

AAPL Stock: 121.3 ( -1.07 )

Printed from http://www.macnn.com

Motorola Solutions agrees to buying Psion for $200m

updated 12:45 pm EDT, Tue June 19, 2012

Psion purchase to strengthen Motorola Solutions computing line

Motorola Solutions is to acquire UK-based Psion. The sale will see the the rugged device maker be bought by the remaining section of Motorola, not currently owned by Google, at an agreed price of $200 million. Motorola Solutions hopes the deal will help it cut costs and to strengthen its mobile computing portfolio.

The cash offer sees Motorola Solutions paying 88 pence (~$1.38 USD) per Psion share, a 45 percent premium on the closing price from June 14, which also represents a 66 percent premium to the six-month average. The acquisition is expected to close toward the end of this year, with Psion becoming part of Motorola Solutions' Enterprise Mobile Computing business.

Psion is still best known as the creator of the Psion Organizer, originally launched in 1984. Further iterations saw a Series 5 clamshell design with a keyboard and an operating system called EPOC, later renamed Symbian and bought by Nokia. Currently, Psion specializes in vehicle-mounted and rugged mobile computers, with a focus on enterprise. [via Tech Week Europe]




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

HP 14-x030nr 14-inch Chromebook

If you're like us, chances are you've come to realize that you need the ability to access the Internet on the go. Also, you've prob ...

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

toggle

Most Commented