Motorola will pay $1.36 (88 pence) per share, which is a generous premium of 45 percent over Psion’s closing price of 60.5 pence on Thursday.
London-based Psion has been making rugged mobile PCs and accessories since 1980, and Motorola will use its expertise to expand its own handhelds and in-vehicle offerings. Mind you, this is a different Motorola from Motorola Mobility, which was acquired by Google, so don’t expect Psion to influence the next Google-Motorola smartphones. Psion has more than 800 employees and generated about $270 million in revenue in 2011.
“Psion is a compelling opportunity to strengthen our industry-leading, mobile-computing portfolio with ruggedized handheld products and vehicle-mount terminals that will deepen our presence in the global markets in which we compete,” said Greg Brown, CEO of Motorola Solutions, in a statement.
Psion mobile PC photo: Christopher Cornelius/Flickr