Motorola Inc. (MOT) will pay $15 a share, which works out to $3.9 billion in cash, to acquire Symbol Technologies Inc. (SBL), a maker of handhled computers, wireless networking equipment and radio frequency indentification systems.
Shares of Symbol jumped up 15.4 percent since the announcement. Their shares were trading at more than 200 percent above current purchase price in March 2000, before the Internet stock crash. The company suffered from an accounting scandal involving two CEOs, one of which fled the country to avoid prosecution for accounting fraud in 2004.
Motorola is the number 2. manufacturer of wireless handsets just behind global leader Nokia Corp. (NOK). Symbol's competitors include NCR Corp. (NCR) and Intermec Inc. (IN).
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