At the end of the quarter, the company’s cash was $46,000 and debt under the company’s line of credit was $14.2 million.
Today, Xplore entered into a definitive agreement to be acquired by Illinois-based Zebra Technologies. According to this deal, Zebra will acquire all of the outstanding shares of Xplore for $6 per share. This transaction is expected to close during the third quarter of 2018.
“We are excited to join Zebra, and believe this acquisition validates the incredible work our team does every day to develop innovative rugged mobility solutions to serve our customers. Our products are a natural fit for Zebra and gives them a highly complementary rugged tablet portfolio and customer base that stands strong against any competitor,” said CEO Tom Wilkinson.