Thursday, April 16, 2015
Xplore Buys Motion Computing
Austin-based Xplore Technologies, the manufacturer of ruggedized tablet PCs, said today that it has agreed to acquire fellow Austin ruggedized PC manufacturer Motion Computing. The deal is worth approximately $16M, made up of $9M in cash plus assumption of $7M in net liabilities. Xplore asid Motion Computing had unaudited revenues of approximately $83M for the fiscal year ended December 31, 2014. Xplore said it is funding the deal with a new, $15M credit facility from Square 1 Bank. Motion Computing had been backed by New Enterprise Associates, Institutional Venture Partners, G-51 Capital, and others.