Motorola Solutions Receives $1B Investment From Silver Lake.
Byline: Tanzeel Akhtar
Motorola Solutions (NYSE:MSI) has received a $1 billion investment from Silver Lake, which will also settle its outstanding $800 million aggregate principal investment in Motorola Solutions one year ahead of its maturity.
Salt Lake will purchase $1 billion an aggregate principal amount of 1.75% convertible senior unsecured notes due in 2024.
"The Silver Lake partnership has been outstanding, and I'm very pleased that we're continuing it," said Greg Brown, 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."
Motorola Solutions closed Wednesday at $178.92. The stock has a 52-week high of $182.82 and a 52-week low of $108.25.
American Eagle Outfitters Falls After Q2 Earnings Beat, Lower Guidance
Vera Bradley Falls On Mixed Q2 Earnings
(c) 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.