Xplore Technologies, a US-based manufacturer of rugged tablet PCs, US has agreed to acquire substantially all of the assets of Motion Computing and its subsidiaries, which also produces rugged tablets.
The transaction will be effected through an asset purchase and sale agreement by and among Xplore, Motion and Square 1 Bank. Xplore will acquire Motion for approximately $9 million, plus the assumption of approximately $7 million in net liabilities. Xplore said it intends to consummate the transaction using proceeds from a new $15 million credit facility with Square 1 Bank and to support integration and growth of the two businesses with its cash on hand.
Around 50% of Motion’s revenue is generated from outside the US and Xplore says that the acquisition will “significantly expand its international reach”.
