Motorola Completes Psion Acquisition

— October 03, 2012

Motorola Solutions announced that its $200 million acquisition of enterprise mobile solutions provider Psion has been declared wholly unconditional and has been finalized.

“We are pleased to announce the completion of our acquisition of Psion, which expands our core enterprise mobile computing business,” says Greg Brown, chairman and CEO of Motorola Solutions. “We welcome Psion’s dedicated employees to our company and look forward to a seamless integration for the benefit of our customers and combined stakeholders.”

In a joint letter to Psion’s current and prospective customers, the companies assured all that their services will remain intact. “Customers who previously purchased or will purchase Psion products can be assured their products will be fully serviced and supported for the full duration of the contracts. All customer support numbers also remain the same.”

Stockholder Implications
Holders of Psion shares who have not accepted the offer but wish to do so are encouraged to accept at this time according to the terms of the offer, which will remain open until further notice.

Following the transaction, an application is being submitted to the London Stock Exchange to delist Psion common stock. Upon delisting, Psion common stock will cease trading. Motorola Solutions expects the transaction to be accretive to earnings per share on a non-GAAP basis in 2013 and on a GAAP basis in 2014.

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