Motorola Inc to acquire TTP Communications

Motorola Inc to acquire TTP Communications

World’s second largest maker of mobile phones Motorola has said that they are acquiring Britain’s TTP Communications.

TTP Communications develops software for 3G applications and the deal is worth around 103 million pounds. Motorola would pay around 45 pence cash for each TTP share, which is a 246 percent premium on TTP’s current stock price in the share market.

Ron Garriques, president of Motorola’s mobile devices business spoke about this acquisition to the media: “TTP is a leader in wireless software platforms … and is a highly complementary addition to Motorola’s mobile device technology portfolio.”

Bruce Anderson, TTP’s finance director added: “Our technology enables handset manufacturers to use the same applications whether it is 2G phones or 3G phones. Motorola will be able to develop AJAR more quickly because they have more financial resources than we got.”