Subsequent Events

6 Months Ended

Jun. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

During the second quarter of 2018, the Company began settlement discussions associated with a pending commercial lawsuit.  On July 27, 2018, the Company and plaintiff executed an agreement resolving the lawsuit in its entirety. As a result, the Company recorded a $13 million pretax charge in the second quarter of 2018, which is reflected as a component of General and administrative expenses within the Consolidated Statements of Operations. 

On July 5, 2018, Zebra entered into a definitive agreement under which Zebra will acquire all outstanding common stock of Xplore Technologies Corporation for $6.00 per share in cash. Under the terms of the agreement, Zebra plans to effect the acquisition via a tender offer. The aggregate consideration of the transaction, including assumed indebtedness, is expected to be less than or equal to $90 million. Zebra expects to fund the transaction with a combination of cash on hand along with fully committed financing available under its Revolving Credit Facility. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2018. The tender offer was filed on July 17, 2018. The acquired business will become part of the EVM segment.