Motorola Solutions Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 15, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Backlog
Our backlog includes orders that have been received and are believed to be firm. As of December 31, 2023 and December 31, 2022, our backlog was as follows:
| December 31 | ||
|---|---|---|
| (In millions) | 2023 | 2022 |
| Products and Systems Integration | $4,993 | $4,900 |
| Software and Services | 9,266 | 9,447 |
| $14,259 | $14,347 | |
Approximately 60% of the Products and Systems Integration segment backlog and 27% of the Software and Services segment backlog is expected to be recognized as revenue during 2024. The firmness of such orders is subject to future events that may cause the amount recognized to change. In the fourth quarter of 2023, our backlog in the Software and Services segment was reduced by $777 million related to the Airwave contract with the Home Office, as per the pricing control directed under the remedies order published by the United Kingdom's Competition and Markets Authority (the "CMA") for services contracted through 2026, inclusive of the five month period beginning August 1, 2023. Refer to "Part 1. Item 1A. Risk Factors" of this Form 10-K for a discussion of the risks and uncertainties associated with the CMA's remedies order.
| Technology | Segment | Acquisition | Description | Purchase Price | Date of Acquisition |
|---|---|---|---|---|---|
| Video Security and Access Control | Products and Systems Integration | IPVideo Corporation | Creator of a multifunctional safety and security device. | $170 million and share-based compensation of $5 million | December 15, 2023 |
| Command Center | Software and Services | Rave Mobile Safety, Inc. ("Rave Mobile") | Provider of mass notification and incident management services. | $553 million and share-based compensation of $2 million | December 14, 2022 |
| LMR Communications | Products and Systems Integration | Futurecom Systems Group, ULC | Provider of radio coverage extension solutions. | $30 million | October 25, 2022 |
| LMR Communications | Products and Systems Integration | Barrett Communications Pty Ltd | Provider of specialized radio communications. | $18 million | August 8, 2022 |
| Video Security and Access Control | Products and Systems Integration | Videotec S.p.A. | Provider of ruggedized video security solutions. | $23 million and share-based compensation of $4 million | May 12, 2022 |
| Video Security and Access Control | Software and Services | Calipsa, Inc. | Provider of cloud-native advanced video analytics. | $39 million and share-based compensation of $4 million | April 19, 2022 |
| LMR Communications | Software and Services | TETRA Ireland Communications Limited | Provider of Ireland's National Digital Radio Service. | $120 million | March 23, 2022 |
| Video Security and Access Control | Products and Systems IntegrationSoftware and Services | Ava Security Limited | Provider of cloud-native video security and analytics. | $388 million and share-based awards and compensation of $7 million | March 3, 2022 |
| Command Center | Software and Services | 911 Datamaster, Inc. | Provider of Next Generation 911 data solutions that help to ensure emergency calls are accurately located and routed based on the caller's location. | $35 million and share-based compensation of $3 million | December 16, 2021 |
| Video Security and Access Control | Products and Systems IntegrationSoftware and Services | Envysion, Inc. | Provider of enterprise video security and business analytics. | $124 million and share-based compensation of $1 million | October 29, 2021 |
| Video Security and Access Control | Products and Systems IntegrationSoftware and Services | Openpath Security, Inc. | Provider of cloud-based mobile access control. | $298 million and share-based compensation of $29 million | July 15, 2021 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.