Symbol completes Telxon purchase

By Staff -- Modern Materials Handling, 1/1/2001

Symbol Technology's (Holtsville, N.Y.) acquisition of Telxon Corp. (Cincinnati, Ohio) in a stock-for-stock merger is now complete, making Symbol a global leader in wireless handheld computing systems. Telxon's business will be operated as a wholly-owned subsidiary and re-branded under the Symbol name.

"The acquisition of Telxon is a further step in the consolidation in the automatic data capture industry," says Tony Wilson, senior director of marketing at Symbol.

Wilson says that Symbol can now provide customer solutions more effectively than in the past. "This is evidence of further maturation–evolving, growing, and developing in the world of automatic data capture."

As a result of the acquisition, more than 500 Houston-area workers are expected to lose their jobs as Telxon closes its Houston operations early this year. Only 45 employees will be offered jobs elsewhere in the new company.