Skip to main content

Motorola Solutions Buys British Psion for $200 million

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.

Follow @JaneMcEntegart on Twitter.   

  • guardianangel42
    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".
    Reply
  • boyabunda
    Read it as "Motorola Solutions Buys British 'Prison'" LOL
    Reply
  • jhansonxi
    created some of the earliest PDAs. I had a couple of Organizer II models that I sold on eBay last year.
    Reply
  • jhansonxi
    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?
    Reply
  • Stardude82
    Psion is still around? I guess its good to see Motorola Solutions didn't get killed by its separation from Mobility.
    Reply
  • curiosul
    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 ...
    Reply
  • giovanni86
    9375579 said:
    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.
    Reply
  • back_by_demand
    jhansonxicreated some of the earliest PDAsActually the first PDA, don't believe the Newton hype
    Reply
  • freggo
    Darn it; if only I had known an Insider who could have given me some Information :-)

    Reply
  • CKKwan
    Does Motorola still exist? And more importantly with cash in hand?
    Reply