Motorola Pays $3.9 Billion To Take Over SymbolWritten by Evan Schuman
Motorola has taken over RFID and barcode vendor Symbol Technologies for almost $4 billion in cash, which came to about $15/share.
Wall Street saw this as good news for Symbol and not-so-great-news for Motorola, as Motorola shares dropped 50 cents in afternoon trade on the New York Stock Exchange, while Symbol shares increased 3 cents at $14.70 on the NYSE. But its stock price had already soared about 15 percent on Monday when it absorbed rumors that it might be purchased.
Motorola CEO Ed Zander issued a statement that the positions Motorola well for a digital future: “Everything is going digital and everything digital is going mobile. This is especially evident in the way businesses are run today. Motorola and Symbol share the same vision of a digital, mobile world for enterprises that matches the world people enjoy at home and at play.”