Barcode printer maker Zebra Technologies Corp said it would purchase Motorola Solutions Inc's enterprise business, which makes rugged mobile computers, tablets and barcode scanners, for $3.45 billion in cash.Motorola Solutions' enterprise business has been struggling as clients delay orders and cut spending.The deal will help Zebra, whose products help track inventory in the supply chain, tap into the opportunity presented by the profusion of devices, ranging from cars to smoke alarms, connecting to the Internet.The acquisition will be funded through a combination of $200 million cash on hand and $3.25 billion debt, comprising a credit facility and issuance of debt securities.
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.
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