Motorola Solutions expects to get bank financing for Airwave purchase

By Angela McDaniels

Tacoma, Wash., Dec. 3 – Motorola Solutions, Inc. plans to use bank financing and cash on hand to acquire Airwave Solutions Ltd. for £817.5 million, according to a company news release.

Motorola Solutions expects its net cash payment to be about £700 million at closing, based on purchase price adjustments and cash in the business.

In addition, a deferred cash payment of £64 million will be made in November 2018.

The acquisition is expected to close in the first quarter of 2016.

Motorola Solutions provides communication solutions and services to public safety and commercial customers. The company is based in Schaumburg, Ill.

Slough, England-based Airwave provides voice and data communications to organizations that provide public services. It is owned by Macquarie European Infrastructure Fund 2.

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