Motorola Solutions (NYSE:MSI), a global provider of innovative mission-critical communications solutions for public safety and commercial customers, will receive a $1 billion investment from Silver Lake.
The company intends to use the proceeds to accelerate growth in its smart public safety solutions and services businesses through new partnerships, investments and acquisitions.
Led by Greg Brown, chairman and CEO, Motorola Solutions serves more than 100,000 customers in 100 countries, including local, state and national public safety agencies as well as businesses in industries such as utilities, mining and transportation.
The company’s communications technology portfolio includes devices used by professionals in the field, problem-solving software that drives mission-critical systems for command centers, network infrastructure and a range of services.
In connection with Silver Lake’s investment, Egon Durban and Greg Mondre, managing partners of Silver Lake, will be appointed to Motorola Solutions’ board of directors when the transaction closes, which is expected to occur in the third quarter of 2015.
Motorola Solutions also announced its intent to repurchase up to $2 billion of stock through a tender offer, which will be funded with a combination of existing cash on the company’s balance sheet and a portion of the proceeds from the $1 billion strategic investment by Silver Lake.