Motorola To Buy Symbol

Motorola has said it will buy Symbol Technologies for about $3.9 billion. Symbol (based in Holtsville) makes bar code scanners, Palm OS- and Windows-based handheld computers, wireless networking equipment and retail kiosks. “The purchase price of $15 per share in cash represents a 2.2% premium to Symbol’s Monday closing price of $14.67. Symbol had approximately $200 million of net cash as of June 30…Symbol has about 5,200 workers, and in 2005 reported a profit of $32.3 million on sales of $1.77 billion.”

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