Motorola acquires Tut Systems for $1.15 per share in transaction valued at $39 million

By Lisa Kerner

Charlotte, N.C., March 30 - Motorola, Inc. completed the acquisition of all outstanding shares of Tut Systems, Inc. for $1.15 per share in cash.

As a result, Tut Systems' common stock was suspended at the close of business Friday.

The transaction has a total equity value of about $39 million, according to a company news release.

Tut Systems and Motorola announced a definitive agreement in December.

Located in Lake Oswego, Ore., Tut Systems develops and sells digital video processing systems.

Motorola is a wireless and broadband communications company based in Schaumburg, Ill.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.