Zebra Technologies Corporation · NASDAQ:ZBRA
Zebra Technologies — Merger or Acquisition (April 2014)
21 slides from Zebra Technologies's merger presentation, Apr 15, 2014
Slide 1: Enterprise Asset Intelligence for the Connected Age
ENTERPRISE ASSET INTELLIGENCE FOR THE CONNECTED AGE MANAGEMENT PRESENTATION APRIL 15, 2014
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT Statements made in this presentation which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results may differ from those expressed or i
Slide 3: Today's Speakers
TODAY’S SPEAKERS Anders Gustafsson Michael C. Smiley Chief Executive Officer Chief Financial Officer 3 Enterprise Asset Intelligence for the Connected Age
Slide 4: We Sit at the Intersection of the Physical and the Digital
WE SIT AT THE INTERSECTION OF THE PHYSICAL AND THE DIGITAL 4 Enterprise Asset Intelligence for the Connected Age
Slide 5: Creating the Global Leader in Enterprise Asset Intelligence
CREATING THE GLOBAL LEADER IN ENTERPRISE ASSET INTELLIGENCE Motorola Solutions Enterprise Business • Established leader in • Global leader in mobile enterprise specialty printing, CIO’s first call for computing, data capture RFID and location enterprise asset and RFID & motion tracking intelligence
Slide 6: Acquisition Highlights
ACQUISITION HIGHLIGHTS • Acquisition of the Enterprise Business of Motorola Solutions • Excludes iDEN, the professional commercial radio product line • Includes ~3,700 issued and pending patents • Includes ~4,500 employees • Attractive financial proposition for shareholders 6 Enterprise Asset Intell
Slide 7: Transaction Details
TRANSACTION DETAILS • All-cash transaction of • Efficient use of off-shore $3.45 billion cash • Multiple of 10.9x on last 12 • Accretive in first full year on month EBITDA; 8.3x with a cash EPS basis, post synergies closing • $100 million in run-rate • Deal ROIC exceeds cost of synergies capital by
Slide 8: Transaction Details
TRANSACTION DETAILS • Debt to adjusted EBITDA ratio of approximately 5x at closing • Rapid debt pay-down strategy • Target: leverage of less than 3x by year three • Significant free cash flow generation • Long-term expectations – 4-5% sales growth, before sales synergies – 18-20% EBITDA margin 8 Ent
Slide 9: Clearly Defined Roadmap to Integration
CLEARLY DEFINED ROADMAP TO INTEGRATION • Mike Terzich to head Integration Management Office – Senior leader with 25 years of industry experience • Execution plan and calendar in place to ensure Day One readiness • Complete transaction by end of 2014 9 Enterprise Asset Intelligence for the Connected
Slide 10: The Enterprise Internet of Things
THE ENTERPRISE INTERNET OF THINGS • Data sensing, tracking and capturing devices • Secure wireless and wireline networks • Flexible, cloud-based applications • Big data analytics for actionable business insights 10 Enterprise Asset Intelligence for the Connected Age
Slide 11: We Are Uniting Leaders in Six Key Technologies
WE ARE UNITING LEADERS IN SIX KEY TECHNOLOGIES Mobile Barcode & Card Data Capture and Computing Printing Scanning RFID Location and Cloud-Based Device Motion Sensing Management 11 Enterprise Asset Intelligence for the Connected Age
Slide 12: Innovation Is in Our DNA
INNOVATION IS IN OUR DNA 1,700 product development engineers worldwide 60 major solution releases in 2013 4,500 patents issued and pending 12 12 Enterprise Asset Intelligence for the Connected Age
Slide 13: We Make Retail Work
WE MAKE RETAIL WORK Used by retailers with over 70,000 retail stores in the US Customer Engagement Solutions Access ID Solutions RFID Tag Solutions Self Service Solutions Mobile Payment Solutions 13 Enterprise Asset Intelligence for the Connected Age
Slide 14: Modern Manufacturing and T&L Enterprises
MODERN MANUFACTURING AND T&L ENTERPRISES In facilities for all top 10 global manufacturers Over 9 billion packages delivered in 2013 Cycle Counting Put Away Solutions Solutions Picking Shipping/Receiving Solutions Solutions 14 Enterprise Asset Intelligence for the Connected Age
Slide 15: As Well As Today's Healthcare Workspace
… AS WELL AS TODAY’S HEALTHCARE WORKSPACE Providers using our devices handle over 300 million patient visits per year Bedside Medication Specimen Label Administration Solutions Solutions Positive Patient ID Solutions Personnel ID Solutions Blood Labeling Solutions 15 Enterprise Asset Intelligence fo
Slide 16: Solutions to 95% of Fortune 500 Companies
SOLUTIONS TO 95% OF FORTUNE 500 COMPANIES 16 Enterprise Asset Intelligence for the Connected Age
Slide 17: Combining Two Great Businesses
COMBINING TWO GREAT BUSINESSES Making the SMART and CONNECTED ENTERPRISE a Reality 2013 Sales: 1717 Enterprise Asset Intelligence for the Connected Age
Slide 18: Questions?
YR QUESTIONS? ZEBRA TECHNOLOGIES SEE MORE. DO MORE.
Slide 19: Appendix
YR APPENDIX ZEBRA TECHNOLOGIES SEE MORE. DO MORE.
Slide 20: LTM EBITDA - Unaudited
LTM EBITDA - UNAUDITED LTM (last 12 months) EBTDA is computed as follows: Motorola Enterprise LTM 3/31/2014 ($ millions) Business Zebra Proforma Operating Income $ 201 $ 187 $ 388 Plus: Depreciation & amortization $ 69 $ 34 $ 103 Exit, restructuring & acquisition costs $ 46 $ 14 $ 60 EBITDA $ 316 $
Slide 21: Thank You
YR THANK YOU ZEBRA TECHNOLOGIES SEE MORE. DO MORE.
Zebra Technologies — Merger or Acquisition (April 2014) on 6ix