Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, April 15, 2014

Zebra Tech to purchase Motorola Solutions' unit for $3.5 billion - FT, (NASDAQ: ZBRA)

Barcode printer maker Zebra Technologies has agreed to purchase Motorola Solutions Inc's enterprise business for $3.5 billion in cash, the Financial Times reported, citing people familiar with the discussions. The deal was agreed in the past few days and could be announced as early as Tuesday, the newspaper said. (r.reuters.com/cap77v)Motorola Solutions' enterprise business, which makes rugged mobile computers and tablets for businesses, has struggled as companies delay orders and cut down on spending.Sales in Motorola's enterprise business rose to $736 million from $733 million, for the fourth-quarter ended Dec. 31.

Zebra Technologies Corporation (Zebra) designs, manufactures and sells specialty printing devices that print variable information on demand at the point of issuance. Shares of ZBRA traded higher by 2.23% or $1.49/share to $68.28. In the past year, the shares have traded as low as $42.51 and as high as $72.76. On average, 301348 shares of ZBRA exchange hands on a given day and today's volume is recorded at 436421.



Source