On September the 19th 2006, Motorola was announcing the signing of a definitive merger agreement, under which Motorola would acquire all of the outstanding shares of Symbol for $15 per share in cash. Now Motorola has completed its acquisition of Symbol Technologies, Inc, after the approval of Symbol's shareholders at a special meeting.

The total equity value of the transaction is approximately $3.9 billion on a fully-diluted basis. As of now, Symbol is part of Motorola Networks & Enterprise and it will be the core of Motorola's enterprise mobility business. As a consequence, Motorola will now offer the broadest array of business-critical information anytime, anywhere.

The company's enterprise mobility business will address the entire spectrum of enterprise mobility needs, having as a result the seamless information exchange across functions, geographies and devices. Thus, employees will be able to make more informed decisions and be more productive. The business will be based at Symbol's former headquarters in Holtsville N.Y.

"By combining our complementary technology portfolios, deep industry-specific domain knowledge, sales channels and customer bases, the new Motorola enterprise mobility business establishes itself as a global leader in providing real-time technology solutions for customers, both inside and outside the four walls of their enterprise," said Greg Brown, president of Motorola Networks & Enterprise.

"Through our merger with Motorola, we have delivered value to our shareholders and have created a business that is uniquely positioned to provide enterprise customers with an unrivaled product portfolio," said Sal Iannuzzi, former president and CEO of Symbol that will serve as president of the new business "We are blending Symbol's 30 years of enterprise expertise with Motorola's leadership in mobility to achieve an elevated position as a global enterprise mobility leader."