Motorola Solutions to Purchase 20% of Silver Lake’s Investment
Managing Partners Egon Durban and Greg Mondre to Remain on Motorola Solutions’ Board of Directors
Silver Lake to Retain a Significant Position in Motorola Solutions
CHICAGO and NEW YORK – Sept. 6, 2018 – Motorola Solutions, Inc. (NYSE: MSI), the leading global provider of innovative mission-critical communications solutions for public safety and commercial customers, and Silver Lake, the global leader in technology investing, today announced that Motorola Solutions is purchasing 20 percent of Silver Lake’s convertible notes.
Silver Lake will retain a significant position in Motorola Solutions valued at approximately $1.5 billion. Egon Durban and Greg Mondre, Silver Lake managing partners and managing directors, will remain on the Motorola Solutions board of directors.
“We are excited to continue our partnership and remain enthusiastic long-term shareholders with Motorola Solutions and its leader Greg Brown,” said Durban and Mondre. “The management team has delivered extraordinary shareholder value driven by a relentless focus on customers, product innovation and operational excellence. We are strong believers in the company’s expansion growth strategy focused on managed services, software and video analytics.”
“Since making its $1 billion investment in 2015, Silver Lake has been an outstanding partner,” said Greg Brown, chairman and CEO of Motorola Solutions. “I look forward to continuing the relationship with Egon and Greg as we continue to grow the company and drive shareholder returns.”
Additional information may be found in the Form 8-K that Motorola Solutions will file today with the U.S. Securities and Exchange Commission.