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Motorola Solutions Buys British Psion for $200 million

By - Source: Engadget | B 11 comments

Motorola Solutions has snapped up UK-based Psion in a deal worth £129 million or $200 million USD.

Motorola Solutions Friday announced that it had acquired Psion, a designer and manufacturer of rugged mobile devices for commercial and industrial use. Motorola is hoping the deal, worth $200 million in cash, will bolsters its mobile-computing portfolio with the addition of ruggedized handsets and vehicle-mount terminals.

"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," said Greg Brown, chairman and CEO of Motorola Solutions.

The  million deal will see Psion shareholders receive $1.36 cash per share. This represents a premium of approximately 45 percent to the closing per share price on June 14, 2012, the last trading day prior to the announcement, and a roughly 66 percent premium on the six month average share price prior to June 15.

The two companies expect the deal to be signed and sealed close to the end of this year, in the fourth quarter of 2012, provided the deal garners the usual regulatory approvals.

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  • 3 Hide
    guardianangel42 , June 18, 2012 5:12 PM
    Tell me I'm not the only one that read the title on the front page as "Motorola Solutions buys British Poison for $200 Million".
  • 9 Hide
    boyabunda , June 18, 2012 5:14 PM
    Read it as "Motorola Solutions Buys British 'Prison'" LOL
  • 0 Hide
    jhansonxi , June 18, 2012 5:44 PM
    created some of the earliest PDAs. I had a couple of Organizer II models that I sold on eBay last year.
  • 0 Hide
    jhansonxi , June 18, 2012 5:46 PM
    Psion ( http://en.wikipedia.org/wiki/Psion ) created some of the earliest PDAs. I had a couple of Organizer II models that I sold on eBay last year.

    P.S. Could the TH webmasters fix the broken URL parsing?
  • 0 Hide
    Stardude82 , June 18, 2012 5:49 PM
    Psion is still around? I guess its good to see Motorola Solutions didn't get killed by its separation from Mobility.
  • 0 Hide
    curiosul , June 18, 2012 7:07 PM
    guardianangel42Tell me I'm not the only one that read the title on the front page as "Motorola Solutions buys British Poison for $200 Million".

    boyabundaRead it as "Motorola Solutions Buys British 'Prison'" LOL

    I read prison ...
  • 0 Hide
    giovanni86 , June 18, 2012 7:52 PM
    Quote:
    Read it as "Motorola Solutions Buys British 'Prison'" LOL

    LOL, i did the same thing. I started scratching my head on why in the world would they buy a prison... hahaha :lol:  That made my day.
  • 1 Hide
    back_by_demand , June 18, 2012 8:52 PM
    jhansonxicreated some of the earliest PDAs

    Actually the first PDA, don't believe the Newton hype
  • 0 Hide
    freggo , June 18, 2012 11:29 PM
    Darn it; if only I had known an Insider who could have given me some Information :-)

  • 0 Hide
    CKKwan , June 18, 2012 11:55 PM
    Does Motorola still exist? And more importantly with cash in hand?
  • 0 Hide
    lorfa , June 19, 2012 3:00 AM
    boyabundaRead it as "Motorola Solutions Buys British 'Prison'" LOL


    Same. I was like what are they going to do with it?