The Rave platform will be integrated into Motorola Solutions’ technology portfolio, which includes access control, video security, body-worn cameras, critical communications, command center software and weapons detection solutions.
The all-cash $800 million deal is contingent upon the successful closing of the acquisition by ASSA ABLOY from Spectrum Brands of its Hardware and Home Improvement business.
Fortis plans to invest in building its corporate infrastructure to support future growth, with plans to deploy a multi-pronged growth strategy focused on acquisitions and partnerships.
The restructuring — in which Cemtrex has divested its Smartdesk and VR subsidiaries — is the culmination of a previously announced strategic shift toward prioritizing its core businesses.
