Upon successful completion of the tender offer and subsequent restructuring process, Motorola will own 80% of Vertex Standard and Tokogiken, a privately held Japanese company, controlled by Jun Hasegawa, current president and CEO of Vertex Standard, will retain 20%, forming a joint venture. On November 5, 2007, the board of directors of Vertex Standard expressed their support of the tender offer.
Mark Moon, senior vice president of Motorola’s government and commercial markets, said: This joint venture will enable Motorola and Vertex Standard to deliver an enhanced combined product offering to new regions and customers worldwide.
