Psion in Motorola Solutions deal

Motorola Solutions has agreed a deal to buy Psion for 88p a share // Motorola Solutions has agreed a deal to buy Psion for 88p a share
Motorola Solutions has agreed a deal to buy Psion for 88p a share
British handheld computer maker Psion is being snapped up by US group Motorola Solutions for £129.3 million.
British handheld computer maker Psion is being snapped up by US group Motorola Solutions for £129.3 million.
Psion, which designs heavy duty or so-called rugged handheld computers for commercial and industrial use, has agreed an 88p-a-share sale to the firm - a deal expected to complete in the fourth quarter.
Psion, which has its headquarters in London, employs around 830 staff and has products in more than 50 countries.
Motorola Solutions - which makes public safety radios, handheld scanners and telecommunications network gear - said the move will boost its global presence.
Gregory Brown, chairman and chief executive of Motorola Solutions, said: "Psion is a compelling opportunity to strengthen our industry leading mobile computing portfolio with ruggedised handheld products and vehicle-mount terminals that will deepen our presence in the global markets in which we compete."
John Hawkins, chairman of Psion, said the deal offers investors "certainty in an environment where certainty is in short supply".
Psion was founded in 1980 and was one of the pioneers of mobile handheld computers, such as the Psion Organiser and other Personal Digital Assistants.
It now focuses on rugged handheld and vehicle-mounted devices for the commercial market.
Motorola Solutions was formed last year when Motorola Inc was split in two.
The higher-profile mobile devices maker Motorola Mobility Holdings was spun off and sold to internet giant Google for 12.5 billion US dollars (£8 billion) last month.
Page 1 of 1