Tuesday, September 19, 2006

Motorola buys barcode scan firm

BBC NEWS Business Motorola buys barcode scan firm:
Motorola buys barcode scan firm

Symbol's products are used by retailers
US phone firm Motorola is buying Symbol Technologies, a maker of barcode scanning systems, for $3.9bn (£2bn).
The world's second-largest mobile phone manufacturer, Motorola said the move will allow it to expand its business with corporate customers.
Motorola, which hopes to close the deal by early 2007, is paying $15 per share, a slight premium over Symbol's Monday closing price of $14.67 in New York.
Shares in Motorola are currently near a six-year high.
'This transaction significantly advances Motorola's enterprise mobility strategy and is consistent with our focus on building on our already strong intellectual property portfolio,' Motorola said in a statement.
In addition to barcode scanners for use in supermarkets and other stores, Symbol Technologies makes items such as computerised payment systems and handheld computers for tracking inventories.
Symbol said the deal represented a natural fit for both companies. "


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