Motorola Solutions (NYSE: MSI), a global leader in
mission-critical communications, command center software and video
security and analytics, and Silver Lake, a global leader in
technology investing, announced they will extend their strategic
partnership. In connection with the continuation of this
partnership, Silver Lake will make a new $1 billion investment in
Motorola Solutions, and settle its outstanding $800 million
aggregate principal investment one year ahead of its maturity.
“The Silver Lake partnership has been outstanding, and I’m very
pleased that we’re continuing it,” said Greg Brown, chairman and
CEO of Motorola Solutions. “Our relentless focus on people,
platforms, growth and shareholder return has proven to be very
successful, and I’m excited about the opportunities we have in
front of us.”
Egon Durban and Greg Mondre, managing partners and managing
directors of Silver Lake, will remain on the Motorola Solutions
board.
“Motorola Solutions is a great company that has evolved into a
leading mission-critical technology platform addressing the
societal challenge of public safety,” said Durban and Mondre.
“Greg, the management team and employees have delivered
extraordinary growth and shareholder value through innovative
product development and world-class services for their customers.
Silver Lake is excited to extend our partnership with the team and
the rest of the board. The company is positioned for continued
growth with exciting new opportunities across its mission-critical
communications, command center software and video analytics
platform offerings.”
Issuance of $1 Billion Principal Amount of 1.75% Convertible
Notes Due 2024
Under the terms of the new agreement, Silver Lake will purchase
$1 billion aggregate principal amount of 1.75% convertible senior
unsecured notes due 2024 (the “2024 Notes”) using capital from a
more recent fund to extend Silver Lake’s commitment and enable a
longer hold period. The notes will have an initial conversion price
of $203.50 per share, subject to customary anti-dilution and other
adjustments. They will mature in September 2024 unless earlier
repurchased, redeemed or converted.
Settlement of $800 Million Principal Amount of 2.00%
Convertible Notes Due 2020
In connection with the issuance of the 2024 Notes, Silver Lake
and MSI will settle outstanding $800 million aggregate principal
amount of 2.00% convertible senior unsecured notes due 2020 (the
“2020 Notes”). Motorola Solutions will pay Silver Lake
approximately $1.1 billion in cash and issue approximately 5.5
million shares, which is fewer than the second quarter diluted
share count that assumed settlement of the full premium for the
2020 Notes in shares.
Additional information may be found in the Form 8-K that will be
filed today with the U.S. Securities and Exchange Commission.
Goldman, Sachs & Co. LLC acted as financial advisors to
Motorola Solutions, and Wachtell, Lipton, Rosen & Katz served
as Motorola Solutions’ legal advisor in the transactions. Simpson
Thacher & Bartlett served as Silver Lake’s legal advisor.
About Motorola Solutions
Motorola Solutions is a global leader in mission-critical
communications. Our technology platforms in communications, command
center software, video security solutions and managed and support
services make cities safer and help communities and businesses
thrive. At Motorola Solutions, we are ushering in a new era in
public safety and security. Learn more at
www.motorolasolutions.com.
About Silver Lake
Silver Lake is the global leader in technology investing, with
over $43 billion in combined assets under management and committed
capital and a team of approximately 100 investment and value
creation professionals located in Silicon Valley, New York, London
and Hong Kong. Silver Lake’s portfolio of investments collectively
generates more than $210 billion of revenue annually and employs
370,000 people globally. For more information about Silver Lake and
its entire portfolio, please visit www.silverlake.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of applicable federal securities law. These statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and generally include
words such as “believes,” “expects,” “intends,” “anticipates,”
“estimates” and similar expressions. The Company can give no
assurance that any actual or future results or events discussed in
these statements will be achieved. Any forward-looking statements
represent the Company’s views only as of today and should not be
relied upon as representing the Company’s views as of any
subsequent date. Readers are cautioned that such forward-looking
statements are subject to a variety of risks and uncertainties that
could cause the Company’s actual results to differ materially from
the statements contained in this press release. Motorola Solutions
cautions the reader that the risk factors below, as well as those
on pages 9 through 21 in Item 1A of Motorola Solutions’ 2018 Annual
Report on Form 10-K and in its other SEC filings available for free
on the SEC’s website at www.sec.gov and on Motorola Solutions’
website at www.motorolasolutions.com, could cause Motorola
Solutions’ actual results to differ materially from those estimated
or predicted in the forward-looking statements. Many of these risks
and uncertainties cannot be controlled by Motorola Solutions, and
factors that may impact forward-looking statements include, but are
not limited to: (1) the economic outlook for the government
communications industry; (2) the impact of foreign currency
fluctuations on the Company; (3) the level of demand for the
Company's products; (4) the Company's ability to refresh existing
and introduce new products and technologies in a timely manner; (5)
exposure under large systems and managed services contracts,
including risks related to the fact that certain customers require
that the Company build, own and operate their systems, often over a
multi-year period; (6) negative impact on the Company's business
from global economic and political conditions, which may include:
(i) continued deferment or cancellation of purchase orders by
customers; (ii) the inability of customers to obtain financing for
purchases of the Company's products; (iii) increased demand to
provide vendor financing to customers; (iv) increased financial
pressures on third-party dealers, distributors and retailers; (v)
the viability of the Company's suppliers that may no longer have
access to necessary financing; (vi) counterparty failures
negatively impacting the Company’s financial position; (vii)
changes in the value of investments held by the Company's pension
plan and other defined benefit plans, which could impact future
required or voluntary pension contributions; and (viii) the
Company’s ability to access the capital markets on acceptable terms
and conditions; (7) the impact of a security breach or other
significant disruption in the Company’s IT systems, those of its
partners or suppliers or those it sells to or operates or maintains
for its customers; (8) the outcome of ongoing and future tax
matters; (9) the Company's ability to purchase sufficient
materials, parts and components to meet customer demand,
particularly in light of global economic conditions and reductions
in the Company’s purchasing power; (10) risks related to dependence
on certain key suppliers, subcontractors, third-party distributors
and other representatives; (11) the impact on the Company's
performance and financial results from strategic acquisitions or
divestitures; (12) risks related to the Company's manufacturing and
business operations in foreign countries; (13) the creditworthiness
of the Company's customers and distributors, particularly
purchasers of large infrastructure systems; (14) the ownership of
certain logos, trademarks, trade names and service marks including
“MOTOROLA” by Motorola Mobility Holdings, Inc.; (15) variability in
income received from licensing the Company's intellectual property
to others, as well as expenses incurred when the Company licenses
intellectual property from others; (16) unexpected liabilities or
expenses, including unfavorable outcomes to any pending or future
litigation or regulatory or similar proceedings; (17) the impact of
the percentage of cash and cash equivalents held outside of the
United States; (18) the ability of the Company to pay future
dividends due to possible adverse market conditions or adverse
impacts on the Company’s cash flow; (19) the ability of the Company
to complete acquisitions or repurchase shares under its repurchase
program due to possible adverse market conditions or adverse
impacts on the Company’s cash flow; (20) the impact of changes in
governmental policies, laws or regulations; (21) negative
consequences from the Company's use of third party vendors for
various activities, including certain manufacturing operations,
information technology and administrative functions; (22) the
Company’s ability to settle the par value of the 2024 Notes in cash
and (23) statements relating to the investment by Silver Lake and
the use of the proceeds and benefits thereof. Motorola Solutions
undertakes no obligation to publicly update any forward-looking
statement or risk factor, whether as a result of new information,
future events or otherwise.
MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are
trademarks or registered trademarks of Motorola Trademark Holdings,
LLC and are used under license. All other trademarks are the
property of their respective owners. ©2019 Motorola Solutions, Inc.
All rights reserved.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190905005417/en/
Motorola Solutions Media Contact Michael Shore +1 847-867-4221
Michael.Shore@motorolasolutions.com
Motorola Solutions Investor Contact Tim Yocum +1 847-576-6899
Tim.Yocum@motorolasolutions.com
Silver Lake Contact Patricia Graue 212-333-3810
silverlake@brunswickgroup.com
Grafico Azioni Motorola Solutions (NYSE:MSI)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Motorola Solutions (NYSE:MSI)
Storico
Da Set 2023 a Set 2024