Motorola Completes Acquisition of Symbol Technologies

Motorola Completes Acquisition of Symbol Technologies

Motorola, Inc. (NYSE: MOT) announced today that it has completed its acquisition of Symbol Technologies, Inc. (NYSE: SBL). The transaction has a total equity value of approximately $3.9 billion on a fully-diluted basis. Symbol will be the core of Motorola’s enterprise mobility business, uniquely positioning the company to take enterprise mobility to a new level. Motorola now will offer the broadest array of innovative products and technologies available that enable enterprise customers to have access to business-critical information anytime, anywhere.

As previously announced on September 19, 2006, the two companies signed a definitive merger agreement under which Motorola has now acquired all of the outstanding shares of Symbol common stock. The transaction was completed today following approval of the merger by Symbol shareholders at a special meeting of shareholders. With the closing of the transaction, trading in Symbol common stock was halted at the close of business today. Symbol now becomes a part of Motorola Networks & Enterprise, a business with a combined revenue of $13 billion for 2005.

As companies look for strategies to address the growing need for a workforce that is mobile, yet connected to the information they need, Motorola’s new enterprise mobility business will lead the marketplace by providing cutting-edge, end-to-end products and services, coupled with application-specific solutions from a vast channel partner network. “By combining our complementary technology portfolios, deep industry-specific domain knowledge, sales channels and customer bases, the new Motorola enterprise mobility business establishes itself as a global leader in providing real-time technology solutions for customers, both inside and outside the four walls of their enterprise,” said Greg Brown, president of Motorola Networks & Enterprise.

Motorola’s enterprise mobility business will address the entire spectrum of enterprise mobility needs from the shop floor to the corner office, providing workers with access to information out in the field, in the factory, at cash registers, at a patient’s bedside and throughout the supply chain. The end result is seamless information exchange across functions, geographies and devices that allows employees to make more informed decisions, be more productive and gain a competitive edge.

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