Motorola Solutions acquires Psion in $200m deal


Psion has been acquired by US firm Motorola Solutions for $200 (129) million.

Once the deal is complete, Psion will form part of Motorola Solutions' Enterprise Mobile Computing (EMC) business.

Under the agreement, Psion shareholders will receive 88 pence per share, a premium of 45 per cent on the company's share price.

Psion, which was founded in 1980, focuses on rugged mobile computing devices intended for industrial use. It employees more than 800 people and posted 2011 revenue of $273 million.

Motorola Solutions makes two-way radios and public safety equipment. The company was spun off from Motorola Mobility, which was sold to Google last year for $12.5 billion. The Psion purchase will bolster Motorola Solutions' range of toughened handhelds and industrial computers.

John Hawkins, chairman of Psion, said the company's directors were pleased to unanimously recommend the offer by Motorola Solutions "at a price which offers a significant cash premium to both the current and recent market prices."

He added: "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."

Rene Millman

Rene Millman is a freelance writer and broadcaster who covers cybersecurity, AI, IoT, and the cloud. He also works as a contributing analyst at GigaOm and has previously worked as an analyst for Gartner covering the infrastructure market. He has made numerous television appearances to give his views and expertise on technology trends and companies that affect and shape our lives. You can follow Rene Millman on Twitter.