Motorola Solutions receives contribution of $ 1 bi from private equity fund Silver Lake

The Motorola Solutions, enterprise software and mission-critical communications services to Governments and companies, announced on Wednesday, 5, who will receive an investment of $ 1 billion private equity fund Silver Lake. The amount will be used by the company to accelerate the expansion of its public security solutions and services, through new partnerships, investments and acquisitions.

The contribution will also be used by Motorola to finance a repurchase of up to $ 2 billion in stock, through a tender offer (OPA), together with the generated box in your latest balance sheet. According to the terms of the agreement, the Silver Lake will buy $ 1 billion of the aggregate principal amount of senior convertible notes from Motorola in circulation to 2%, the win in 2020, whose initial conversion price is $ 68,50 action. The initial conversion price represents a premium of 17% on the average sales price of the common shares of Motorola, US $ 58,55 action at the New York Stock Exchange during the last 30 trading days, shut down on Tuesday, 4.

“This strategic partnership and investment combine the expertise of Silver Lake in technology products, services and information solutions with our vision of creating safer communities and most successful companies,” said Greg Brown, President and CEO of Motorola Solutions. As part of the deal, Egon Durban and Greg Mondre, Executive Directors of Silver Lake, will be part of the Board of Directors of Motorola Solutions, with the completion of the transaction, which is expected to occur sometime this quarter.

The banks Goldman Sachs and J.P. Morgan are acting as financial advisors of Motorola Solutions in the transaction, while the law firm Wachtell, Lipton, Rosen & Katz, as legal advisor. In the case of Silver Lake, the DBO Partners is the financial adviser and Simpson Thacher & Bartlett, is providing legal counsel.

Fonte : [http://convergecom.com.br/]

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