Motorola Solutions Getting $1 Billion Silver Lake Investment

Silver Lake is investing $1 billion in Motorola Solutions, which provides communications solutions to local, state and national public safety agencies, Motorola Solutions said in a news release Wednesday. Silver Lake is a technology investment company. The public safety vendor plans to use the investment to expand its smart public safety products and services businesses through new partnerships, investments and acquisitions, it said. Motorola Solutions also said it intends to repurchase up to $2 billion of stock. The company will fund the tender offer with a combination of existing cash and a portion of the proceeds from the $1 billion investment by Silver Lake. Motorola Solutions stock closed up 6.3 percent to $64.04 Wednesday.