Exhibit 99.1
Motorola Solutions and Silver Lake to Settle Outstanding $1 billion 1.75% Convertible Notes
Silver Lake co-CEO and managing partner, Greg Mondre, will continue to serve on Motorola Solutions
board
CHICAGO Feb. 15, 2024 Motorola Solutions (NYSE: MSI), a global leader in public safety and enterprise security, and Silver Lake,
a global leader in technology investing, announced they will settle Silver Lakes outstanding $1 billion 1.75% senior convertible notes.
The
notes, originally scheduled to mature in September 2024, included a provision which gave Motorola Solutions the right to redeem a portion of the notes upon attainment of a specific Motorola Solutions share price over a specific period. Motorola
Solutions had previously expressed its intention to potentially exercise this redemption right, and the parties agreed to enter into a purchase agreement to settle the notes. As part of the agreement, Motorola Solutions will pay Silver Lake
approximately $1.59 billion in cash to settle Silver Lakes outstanding convertible notes, inclusive of the conversion premium.
The
Silver Lake partnership has been very successful, and weve transformed significantly since we entered into our initial agreement almost nine years ago, said Greg Brown, chairman and CEO, Motorola Solutions. Weve substantially
grown revenue and earnings, significantly improved operating cash flow, completed dozens of acquisitions and quadrupled our addressable market. With our management team, our robust safety and security ecosystem and the opportunities in front of us,
were very well-positioned for continued strong revenue and earnings growth going forward.
We are grateful for our partnership with Greg
Brown and the entire Motorola Solutions team over the past nine years, said Greg Mondre and Egon Durban, co-CEOs of Silver Lake. The remarkable ongoing transformation of Motorola Solutions stands
as a testament to his visionary leadership. Gregs track record of shareholder value creation is nothing short of extraordinary.
Silver Lake co-CEOs and managing partners, Greg Mondre and Egon Durban, will continue serving on the Motorola Solutions board through the current term, with Greg Mondre expected to be nominated to continue board service.
I look forward to continuing to work alongside Greg and the rest of the board, and believe the company will continue to create and deliver on exciting
opportunities for value creation for many years to come, Mondre continued.
Additional information may be found in the Form 8-K that will be filed today with the U.S. Securities and Exchange Commission.
About Motorola Solutions
Motorola Solutions is solving for safer. We build and connect technologies to help protect people, property and places. Our solutions enable the collaboration
between public safety agencies and enterprises thats critical for a proactive approach to safety and security. Learn more about how were solving for safer communities, safer schools, safer hospitals, safer businesses safer
everywhere at www.motorolasolutions.com.