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Symbol announces merger with rival Telxon

By Lynne Hardy

Published: 26 July 2000 15:24 BST

Wireless networking company Symbol Technologies today announced an agreement to merge with rival company Telxon corporation.

The stock for stock deal was agreed unanimously by both boards of directors.

The merger will see the £465 million purchase of Telxon and will create a world leading company in wireless handheld computing.

It is hope the merger will see operating efficiencies being reduced to at least £75mn each year by integrating both companies existing functions.

Symbol's present management is to lead the combined company.

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