Moto buys Symbol for $3.9bn

Mobile giant Motorola said on Tuesday that it had reached a deal to buy Symbol Technologies, the point-of-sale and RFID firm for $3.9bn (£2.06bn).

In a statement Moto said it will pay $15 per share for Symbol.

Ed Zander, Motorola’s chairman and CEO said: “Everything is going digital, and everything digital is going mobile — this is especially evident in the way businesses are run today.” He added: “This transaction significantly advances Motorola’s enterprise mobility strategy and is consistent with our focus on building on our already strong intellectual property portfolio and extending Motorola’s seamless mobility leadership.”

Sal Iannuzzi, President and CEO of Symbol Technologies, said in a statement that he would work toward a speedy transition.