The consideration represents a premium of approximately
45 percent to the closing price of 60.5 pence per Psion share on June 14, 2012.
Motorola Solutions will combine Psion within Motorola
Solutions’ Enterprise Mobile Computing (EMC) business, reporting to Girish
Rishi, corporate vice president, EMC.
Motorola Solutions is expected to make the recommended
cash offer for all Psion shares within 28 calendar days.
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,” said John Hawkins, chairman of Psion.