Motorola Solutions to Acquire Theatro, Maker of AI and Voice-powered Communication and Digital Workflow Software for Frontline Workers

CHICAGO - January 10, 2025 - Motorola Solutions (NYSE: MSI) has entered into a definitive agreement to acquire Theatro Labs, Inc. ("Theatro"), maker of AI and voice-powered communication and digital workflow software for frontline workers, based in Richardson, Texas.

Theatro's software-as-a-service platform, purposefully designed for frontline workers, provides a suite of collaboration applications that deliver information in real time to help improve their productivity and physical safety. Using conversational language through a wearable device, users can ask Theatro's AI voice assistant for guidance to assist customers, check inventory and pricing, and communicate with other team members. The technology can help accelerate employees' work processes and product knowledge.

Additionally, with frontline employee safety threats and theft incidents continuing to rise, Theatro enables employees to discreetly alert management and security teams when they feel unsafe directly through the wearable device, while the AI voice assistant can issue step-by-step safety and incident protocol guidance to help manage a response. Theatro's software also integrates with video security cameras to identify potential theft or safety threats, and proactively alert employees on the store floor.

"Theatro is designed to prioritize both safety and operational efficiency, which are essential for all frontline workers," said Mahesh Saptharishi, executive vice president and chief technology officer, Motorola Solutions. "With Theatro, we are continuing to invest in innovative technologies that purposefully apply AI to protect employees while automating how they work and improving their service to customers."

Theatro serves well-known U.S. retailers across a broad range of merchant categories. Motorola Solutions and Theatro expect to integrate complementary workflows across Motorola Solutions' portfolio of technologies, including body cameras, fixed video, panic buttons and radios, to provide new value-added services to existing customers while expanding growth opportunities in industries such as hospitality, healthcare, manufacturing and education.

"For more than a decade, we have been passionate about innovating for frontline workers," said Chris Todd, President & CEO, Theatro. "We're thrilled to be joining Motorola Solutions to enable even more capabilities that help team members remain safe while delivering their best work every day."

Both Motorola Solutions and Theatro will be exhibiting at NRF '25 - Retail's Big Show from Jan. 12-14 in New York City. Motorola Solutions will be located at booth #706 and Theatro at booth #807.

The transaction is expected to close in the first half of 2025, following receipt of regulatory approvals and satisfaction of customary closing conditions. Terms of the transaction were not disclosed.

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 that's critical for a proactive approach to safety and security. Learn more about how we're solving for safer communities, safer schools, safer hospitals, safer businesses - safer everywhere - at www.motorolasolutions.com.

Motorola Solutions Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable federal securities law. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as "believes," "expects," "intends," "anticipates," "estimates" and similar expressions. The company can give no assurance that any actual or future results or events discussed in these statements will be achieved. Any forward-looking statements represent the company's views only as of today and should not be relied upon as representing the company's views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause the company's actual results or events discussed in these statements to differ materially from the statements contained in this release. Such forward-looking statements include, but are not limited to, the expected timing of the closing of the transaction, receipt of regulatory approvals, satisfaction of closing conditions, and Motorola Solutions' ability to integrate the products and services into its portfolio and offerings to customers. Motorola Solutions cautions the reader that the risks and uncertainties below, as well as those in Part I Item 1A of Motorola Solutions' 2023 Annual Report on Form 10-K and in its other SEC filings available for free on the SEC's website at www.sec.gov and on Motorola Solutions' website at www.motorolasolutions.com, could cause Motorola Solutions' actual results or events discussed in these statements to differ materially from those estimated or predicted in the forward-looking statements. Many of these risks and uncertainties cannot be controlled by Motorola Solutions and factors that may impact forward-looking statements include, but are not limited to, Motorola Solutions' ability to close the transaction and successfully integrate and operate Theatro. Motorola Solutions undertakes no obligation to publicly update any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.