news


Motorola: Were Splitting in Half Sooner Than We Said

Motorola Inc. has moved up the timeline in which it expects to split into two companies, Motorola Solutions and Motorola Mobility.

At a financial analyst event on Monday, co-CEO Greg Brown said Motorolas split will happen in January, rather than later in the first quarter.

Early this year, Motorola said it would break apart as a way to boost value among the various businesses. The move is being heralded by billionaire activist Carl Icahn, who recently snapped up more Motorola shares in anticipation of a windfall. Motorola Solutions and Motorola Mobility will continue to trade on Wall Street; the former will be led by Brown, the latter by current co-CEO Sanjay Jha.

A third division, Motorolas telecom equipment business, is selling to Nokia Siemens Networks.

Motorola Solutions will comprise the public safety, bar-code scanners and government- and corporations-oriented mobile computing devices. Motorola Mobility contains the cellphone and home set-top box groups.

Shares of Motorola were trading down .63 percent at $7.94 about half an hour before Wall Streets close.


Leave a comment

Your email address will not be published. Required fields are marked *

Polls

Which best describes your business?

View Results

Loading ... Loading ...
The ID is: 82586