announced Friday that it would acquire
, a privately-held software company, in an all-cash deal.
Motorola did not disclose the price it was paying or other terms of the deal, but it said it hoped to complete the acquisition early in the third quarter, pending approval by Suncoast shareholders.
Suncoast Scientific, based in Shalimar, Fla., develops and markets custom-made software applications aimed at simplifying business-management tasks. Its primary customers are government agencies and municipalities, including the city of Chicago, which uses its Sun Track system to track and manage service requests.
Motorola, based in Schaumberg, Ill., manufactures a variety of communications and networking products, including wireless telephones, messaging and satellite communications systems, and networking and Internet-access products.
"There is considerable synergy between the two companies, and we're looking forward to applying that synergy by introducing new applications that take advantage of the latest technologies," said Larry Hines, president of Suncoast Scientific, in a statement.
Mike Gaumond, vice president and general manager of the
Motorola Market Solutions Divisions
, said his company hoped to integrate Suncoast's information-management software with Motorola's communications technologies for customers in the public-sector market.
"This acquisition has wide implications for the expanding public-sector market where large enterprises use advanced information technologies to improve operational performance," Gaumond said in a statement.
Motorola is scheduled to release its second-quarter earnings after the market closes next Wednesday, July 12. The company is expected to report a profit of 23 cents a share, according to consensus estimates from Wall Street analysts surveyed by
First Call/Thomson Financial
reiterated its buy rating on the stock, with a $43-a-share price target. The Wall Street firm does not underwrite the stock.
Shares of Motorola gained 7/8, or 3%, on Friday to close at 32 7/8.