According to the company’s press release, Motorola Solutions offered 88 pence ($1.36) in cash per Psion share, with the intention to complete the acquisition will a full cash offer.
As soon as the deal is completed, Motorola Solutions will integrate Psion into its Enterprise Mobile Computing (EMC) business, which will be headed by its corporate vice president Girish Rishi.
Psion, formed in 1980, is credited with the release of its then ‘revolutionary’ Psion Organiser, ushering in an age of mobile personal digital assistants (PDAs). The company also owns the registered trademark ‘Netbook’ across Europe and the US, having launched its own Netbook Pro computer back in 2003.
Currently, Psion offers a number of ‘rugged’ mobile computing products, which Motorola Solutions will utilise to strengthen its “industry-leading, mobile-computing portfolio with ruggedized handheld products and vehicle-mount terminals,” deepening its presence in global markets.
It also focuses on emerging technologies, including image capture, voice recognition and RFID.
Psion has approximately 830 employees and delivered 2011 revenues of £176 million ($273 million). It is headquartered in London and a major operational presence near Toronto, Canada, as a direct result of its merger with Canadian company Teklogix Inc back in 2000.
[Image Credit - BabbageCabbage]