Motorola Solutions buys Psion for £129 Million in Cash

Motorola Solutions buys Psion for £129 Million in Cash
Motorola snaps up Psion for cash

UK mobile manufacturer Psion, the pioneer of the PDA and a leader in ruggedized mobile computing products and their applications since 1980 has been snapped up by Motorola Solutions

Psion has been a pioneer of mobile devices since the early 80s and practically invented the concept of the personal digital assistant (PDA), however it never managed to really exploit the market and has since the 2000s focussed more on providing ruggedized mobile devices for use by the logistics industry.

Greg Brown, chairman and CEO of Motorola Solutions, said: "Psion is a compelling opportunity to strengthen our industry-leading, mobile-computing portfolio with ruggedized 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 Psion directors are pleased to unanimously recommend this offer by Motorola Solutions at a price which offers a significant cash premium to both the current and recent market prices. Psion continues to successfully deliver on its strategy of introducing exciting new products while strictly managing the cost base. The offer by Motorola Solutions provides Psion's shareholders with certainty in an environment where certainty is in short supply."

Upon completion of the acquisition, Motorola Solutions will combine Psion within Motorola Solutions' Enterprise Mobile Computing (EMC) business.