Vector Capital and Motorola Solutions have reached an agreement for Vector to acquire Motorola Solutions’ Point-to-Point (PTP or Orthogon) and Point-to-Multipoint (PMP or Canopy) Wireless Broadband Networks businesses for an undisclosed amount. The transaction is expected to close as early as the end of September and is subject to customary closing conditions.
The Motorola PTP and PMP wireless broadband businesses own extensive portfolios of unlicensed and licensed solutions that address key industry verticals.
Vector Capital, a private equity firm, intends to operate the businesses as a single standalone company called Cambium Networks that will be well-funded and positioned to benefit from a more tailored focus and agile organizational structure. Motorola Solutions plans to continue to purchase products from Cambium Networks to meet the broadband needs of its key direct public safety and federal accounts.
“We look forward to working with Motorola Solutions to spinout Cambium Networks," said Alex Slusky, managing partner at Vector Capital, in a statement. “Vector has deep experience restoring focus and accelerating growth at non-core divisions of the largest global technology companies."