Motorola to split in two in January
Friday 03 December 2010
Motorola on Tuesday announced it will split in January into two companies, one focusing on cellphones and Internet and the other on professional equipment, in a bid to boost its performance.
The telecommunications equipment giant said it would split into Motorola Mobility and Motorola Solutions on January 4, 2011.
Motorola shareholders will receive one share of Motorola Mobility for every eight shares of current Motorola shares they hold, the Illinois-based company said in a statement.
"Today's announcement marks another important milestone toward the upcoming separation that is expected to benefit Motorola, its stockholders, as well as each company's respective customers and employees," Greg Brown and Sanjay Jha, Motorola co-chief executives, said in the statement.
Brown is the future CEO of Motorola Solutions and Jha is CEO of Motorola Mobility.
"We look forward to taking advantage of the opportunities before us as we begin the new year as two independent, publicly traded companies," they said.
Motorola Mobility will focus on the media, mobility, Internet and computing markets while Motorola Solutions will target next-generation communications solutions to government, public safety and enterprise customers, it said.
On January 4, Motorola will change its name to Motorola Solutions and will begin trading on the New York Stock Exchange under the ticker symbol MSI; Motorola Mobility will trade under MMI.
Motorola shares were up 0.1 percent in after-hours trading.
Life & Style blogs
Should doctors and patients learn to plan humane, happier endings rather than trying to prolong life?
Black Friday: Best beauty deals
Coke milk? Coca-Cola to launch premium milk brand called Fairlife
Black Friday: best UK tech deals on iPads, Macs, PS4 and more
Black Friday: From Bicester Village to Amazon, best fashion deals
Obama: The only people with the right to object to immigration are Native Americans
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
David Cameron sets out immigration reforms: We should distrust Ukip and their 'snake-oil of simple solutions'
- 1 Jennifer Lawrence scores first UK top 40 single with Hunger Games track 'The Hanging Tree'
- 2 Shia LaBeouf claims he was raped during #IAMSORRY art installation performance
- 3 'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
- 4 Scientists predict green energy revolution after incredible new graphene discoveries
- 5 Michael Buerk wishes he killed Jimmy Savile when he had the chance - by pushing him overboard a cruise ship
iJobs Gadgets & Tech
£50k - 60k per year + Benefits: Opilio Recruitment: We have an exciting Seni...
£50k - 70k per year + Benefits: Opilio Recruitment: We have an exciting Seni...
£32000 - £34000 per annum + Uncapped OTE £65,000 : h2 Recruit Ltd: Looking for...
£28000 - £31000 per annum + Bonus + Progression: h2 Recruit Ltd: Are you looki...