Motorola Solutions nears $4.5 billion deal to buy Silvus, Bloomberg News reports
Motorola Solutions is in advanced talks to acquire closely held wireless-radio maker Silvus Technologies for around $4.5 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The companies could announce a deal within weeks, the report said, adding that the final agreement had not been reached.
Silvus, which is owned by private equity firm TJC, has been exploring options including a potential sale or initial public offering, according to the report.
Motorola Solutions declined to comment when contacted by Reuters, while TJC and Silvus did not immediately respond.
Founded in 2004 and headquartered in Los Angeles, Silvus Technologies makes advanced wireless communication systems for mission-critical applications such as for military and maritime operations.
Growing geopolitical tensions and conflicts have triggered demand for products from companies such as Silvus, prompting investments in modernizing military capabilities.
Chicago, Illinois-based Motorola provides critical communications gear including walkie-talkies, video-surveillance cameras and software solutions, helping communities served by its customers during emergencies.
Motorola forecast second-quarter profit and revenue growth below Wall Street estimates earlier in May.
The company launched SVX - a device that combines a remote speaker microphone, body camera and AI assistant named Assist - in April to help first responders during emergencies.
As of last close, shares of Motorola Solutions were down about 9 per cent this year. The company has a market value of $70.59 billion.
