Psion, known for its PDAs and portable computers has been acquired by Motorola Solutions, Inc. for $200 million with a plan to help expand the latter's business. London, UK-based Psion is known as a leader in mobile computing solutions since 1980.
Motorola Solutions bought the company to strengthen its work with engineering companies. Sources said that this deal has been struck with the aim of bolstering Motorola's "toughened-up handhelds and in-car terminals," according to Engadget. The British company is mostly known for inventing the Personal Digital Assistant (PDA) that grabbed the attention of many third-party software developers back then. Some of the iconic PDA series like Series 3 or Series 5 PDAs were manufactured by Psion.
It's still a mystery why Motorola planned to buy such a company unless they are planning to build a big fat Droid RAZR. "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." Greg Brown, CEO and chairman of Motorola Solutions said.
"The Psion directors are pleased to unanimously recommend this offer by Motorola Solutions at a price which offers a significant cash premium to both the current and recent market prices. Psion continues to successfully deliver on its strategy of introducing exciting new products while strictly managing the cost base. The offer by Motorola Solutions provides Psion's shareholders with certainty in an environment where certainty is in short supply," Psion Chairman John Hawkins said.
After the announcement of the deal, Motorola Solutions' share went up to 69 cents or 1.5% while Psion was up 45%. Psion worked as an independent company over the last 32 year but that is about to change now. The British company has customers spread across 50 countries and they announced revenue of $273 million in 2011.
more stories from Gadgets
Looking for the perfect reading tablet? Explore our guide to discover the top 7 options for your reading needs.
ernest hamiltonDiscover the best budget phones under $200: Motorola Moto G Power 5G vs Samsung Galaxy A15.
ernest hamiltonDiscover the top 6 privacy-focused smartphones for your security. Stay protected and browse with confidence!
ernest hamiltonExplore the top 5 smartphones tailored for business professionals. Stay ahead in your field with the right tech companion!
ernest hamiltoniPhone SE (2022) vs iPhone 11: Find your perfect match now! Compare and choose the best iPhone for your needs.
ernest hamiltonDiscover how the Samsung Galaxy S24 Ultra stacks up against the Google Pixel 9 Pro in this comprehensive comparison of Android flagship powerhouses.
ernest hamiltonIn the battle of the titans, iPhone 16 Pro and Pixel 9 Pro offer compelling features. Dive into our comparison to make your next smartphone upgrade decision.
ernest hamiltonDiscover the hidden gems! Explore our list of the top 6 underrated smartphones you should consider now.
ernest hamilton