Zebra Technologies Corp. has completed its $3.45 billion all-cash acquisition of Motorola Solutions Inc.'s enterprise business, the two companies said today.
The transaction, first announced in April, was funded with $200 million of cash on hand and $3.25 billion of new debt, the companies said.
"This transformative acquisition creates one company with unparalleled capabilities and leading global brands in our industry," Anders Gustafsson, Zebra's CEO, said in a statement. "Our scope and scale make us a more strategic business partner to our customers. We are well-positioned to serve our businesses with solutions and services that help them achieve greater visibility for better enterprise asset intelligence."
As part of the sale, approximately 4,500 Motorola Solutions employees worldwide will transfer to Zebra, the companies said.