Xplore Technologies Corp., www.xploretech.com, Austin, Texas, a manufacturer of rugged tablet PCs, has announced the closing of its previously disclosed acquisition of substantially all of the assets of Motion Computing, www.motioncomputing.com, Austin, Texas, and its subsidiaries.
The transaction was effected through an asset purchase and sale agreement by and among Xplore, Motion and Square 1 Bank, www.square1financial.com, Durham, N.C., Motion’s senior secured lender.
Xplore acquired Motion for approximately $9 million in cash, plus the assumption of approximately $7 million in net liabilities. Xplore consummated the transaction using proceeds from a new $15 million credit facility with Square 1 Bank.
Xplore intends to file a current report on Form 8-K on or about June 30, 2015 that will include Motion’s audited financial statements, as well as historical pro forma financial information for the combined businesses.
Xplore Technologies’ tablets are deployed across a variety of industries and sectors, such as energy, military operations, manufacturing, distribution, public services, public safety, government, and other areas with hazardous work conditions.
Through rugged tablet PCs, tailored accessories and services, Motion Computing delivers mobile technology solutions customized to business workflows. Motion’s suite of mobile technology solutions are purpose built for vertical markets including construction, field service, and utilities. Motion makes its solutions available through a global network of value added resellers and distributors.
Want to tweet about this article? Use hashtags #construction, #mobility, #technology