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FOR IMMEDIATE RELEASE
Contacts:
Motorola, Inc.
Faye Bergemann
847-576-6641
Printrak International Inc.
Cameron Triebwasser
714-238-2058
Robert Jaffe
310-207-9300
MOTOROLA TO ACQUIRE PRINTRAK INTERNATIONAL
ACQUISITION EXPANDS PORTFOLIO OF SOLUTIONS FOR
PUBLIC SAFETY AND CIVIL CUSTOMERS
SCHAUMBURG, Ill. and ANAHEIM, Calif., August 29 /PRNewswire/ --
Motorola, Inc. (NYSE: MOT - NEWS) and Printrak International Inc. (Nasdaq: AFIS
- NEWS) today announced the signing of a definitive agreement under which
Motorola will acquire the Anaheim, Calif.-based supplier of software and related
services for public safety and other customers.
Printrak is a worldwide supplier of enterprise software and related
services for information management and decision support. Printrak's technology
offerings include automated fingerprint identification (AFIS), computer-aided
dispatch (CAD), and records management (RMS) software and hardware systems
targeted at national, state and local governmental and civil agencies. Motorola
is one of the world's leading providers of analog and digital two-way voice and
data radio communications products, systems and services for public safety and
other customers worldwide.
"This acquisition represents a significant step forward in Motorola's
commitment to provide total solutions to public safety and other customers,"
said Robert L. Barnett, Motorola executive vice president and president of the
company's Commercial, Government and Industrial Solutions Sector (CGISS). "Our
public safety customers are seeking increasingly sophisticated command and
control solutions that integrate the radio network console, computer-aided
dispatch and record management systems. This acquisition is designed to address
that growing need; it represents an ideal blending of Motorola's leadership in
wireless communications and Printrak's enterprise-wide application software,
biometric and data management expertise."
"We are excited about joining the Motorola family of businesses,"
stated Daniel A. Crawford, president of Printrak. "Motorola is widely recognized
as a leading worldwide provider of two-way radio communications systems, and
Printrak is a leading provider of information management and decision-support
software for community safety and security
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applications. This acquisition builds on the strengths of both companies. Most
importantly, it is a win for our industry and our customers, who will benefit
from the synergy created by our combined portfolios."
Under the agreement Motorola will pay approximately $160 million in
total, or $12.14 per share, for all of the common stock and common stock
equivalents of Printrak in a cash for stock merger transaction. The merger
consideration represents approximately a 36 percent premium over the last 60
days average closing stock price for Printrak. The transaction is subject to
customary regulatory approvals and other closing conditions and is expected to
be completed in the fourth quarter of this year.
Printrak has approximately 600 employees worldwide. In addition to its
headquarters in Anaheim, Calif., it has facilities in Irvine, Calif., and
Boulder, Colo., in the U.S., as well as international operations including
offices in the United Kingdom and Australia.
Motorola's planned acquisition of Printrak follows the company's 1999
acquisition of Software Corporation of America (SCA), which develops wireless
software applications and middleware for public safety and other customers.
Taken together, these acquisitions strengthen Motorola's ability to provide
customers with comprehensive solutions.
About Printrak International
Printrak International Inc. (Nasdaq: AFIS - NEWS) is a global
supplier of enterprise software and related services for information management
and decision support that ensures community safety and security. The company's
suite of networked applications provides comprehensive management of government
records for rapid access and analysis of critical and time-sensitive public
information. The systems operate by gathering, validating, warehousing, mining
and distributing mission critical data to government agencies and businesses
using private networks, the Internet or wireless services. Printrak technology
also provides the positive identification infrastructure necessary to reduce
fraud and enhance data exchange. The company's systems serve national, state,
county and municipal agencies in 36 countries.
http://www.printrakinternational.com
About Motorola
Motorola, Inc. (NYSE: MOT - NEWS) is a global leader in
providing integrated communications solutions and embedded electronic solutions.
These include:
-- communications products and systems, as well as
networking and Internet-access products, for
consumers, network operators, and commercial,
government and industrial customers.
-- Digital and analog systems and set-top terminals
for broadband cable television operators.
-- Embedded semiconductor solutions for customers in
the networking and computing, transportation,
wireless communications and imaging and
entertainment industries.
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-- Embedded electronic systems for automotive,
communications, imaging, manufacturing systems,
computer, consumer and industrial markets.
Sales in 1999 were $33.1 billion. http://www.motorola.com
SOURCE: MOTOROLA INC.
