Yahoo Finance Motorola (MSI) to Acquire Openpath to Boost Security Offerings
Motorola Solutions, Inc. MSI has inked a deal to acquire Openpath Security Inc. for an undisclosed amount.
Founded in 2016 and headquartered in Culver City, CA, Openpath is a leading provider of cloud-based mobile access control system.
Openpath’s solution makes enterprises more secure with multi-factor authentication and enables contactless entry. The solution can be easily scaled owing to its cloud-based architecture.
It has become even more critical for organizations around the world to make their business a safer place. The acquisition will enable Motorola to combine its market-leading video security portfolio with advanced access control features.
This will provide unparalleled situational awareness at business premises where each entry and exit is verified. They will have round-the-clock visibility of their access points and be able to provide a smooth walk-through using a mobile application.
Openpath’s capabilities will allow Motorola to augment its footprint by supporting enterprise customers with state-of-the-art security solutions. Motorola is committed to the integration of security technologies that help organizations enhance safety.
The transaction is expected to be closed by the end of this month.
Motorola continues to benefit from solid demand for video security products and services, along with a diversified portfolio. The company is focused on strengthening its position in the public safety and security space.
Motorola’s shares have gained 65.1% in the past year compared with the industry’s growth of 48.8%.
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The stock currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader industry are Nokia Corp. NOK, Ooma, Inc. OOMA and SeaChange International, Inc. SEAC, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nokia delivered a trailing four-quarter earnings surprise of 215.2%, on average.
Ooma delivered a trailing four-quarter earnings surprise of 65.5%, on average.
SeaChange International pulled off a trailing four-quarter earnings surprise of 12.2%, on average.
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