Motorola, the No. 2 mobile phone maker, said its subsidiary DP Acquisitions, would pay 45 pence cash for each TTP share, which is a 246% premium to TTP’s Wednesday closing price.
Schaumberg, Illinois-based Motorola already owns a stake in Cambridge, England-based TTP’s licensing business.
TTP focuses on wireless applications, protocols and silicon, and would compliment Motorola’s portfolio, said Ron Garriques, president of Motorola’s mobile devices business, in a statement.
We already have a strong relationship with TTPCom and look forward to continuing momentum TTPCom has built with its customers and partners across the mobile industry, Garriques said.
