(Telecompaper) Motorola Solutions has attracted an investment of USD 1 billion from Silver Lake to help grow its business in public safety communications. Silver Lake will subscribe to 2.0 percent convertible bonds due 2020. They have an initial conversion price of USD 68.50 per share, a 17 premium on Motorola's average share price in the past 30 days. Motorola said it will use the cash injection to fund part of a new USD 2 billion share repurchase programme. In connection with Silver Lake's investment, Egon Durban and Greg Mondre, managing partners of Silver Lake, will be appointed to Motorola Solutions' board of directors when the transaction closes, which is expected in the third quarter. Durban also serves on the boards of Dell and Intelsat and is chairman of WME Entertainment. Mondre is a director of Avaya, Go Daddy, Red Ventures, Sabre Holdings and Vantage Data Centers, and is on the operating committee of SunGard Capital.