Motorola has announced plans to split into two separate publicly traded companies, and will cease trading as a single entity by the first quarter of 2011.The reorganisation will see the formation of a Mobile Devices and Home (MDH) unit, and an Enterprise Mobility Solutions and Networks (EMSN) unit.Current Motorola co-chief executives Sanjay Jha and Greg Brown will become chief executives of the MDH and EMSN divisions respectively.The MDH unit will take on Motorola's existing converged mobile devices, home digital entertainment devices and end-to-end video, voice and data solutions. "The MDH business brings together two highly complementary and innovative organisations. Together we will be best positioned to lead in the convergence of mobility, media and the internet," said Jha.The EMSN business, meanwhile, will oversee Motorola's two-way radios, mobile computers, secure public safety systems, scanning, RFID and wireless network infrastructure."As an independent company, we will continue to build on our long-standing tradition of strong customer relationships, leading-edge product development, quality, thought leadership and solid financial performance," said Brown.Both companies will continue to trade using the Motorola brand, and the firm will implement the separation through a tax-free stock dividend of shares in the new company to shareholders, it said.
Copyright ©v3.co.uk
A confirmation email has been sent to your email address - SUPPLIED GOES EMAIL HERE. Please click on the link in the email to verify your email address. You need to verify your email before you can start posting.
If you do not receive your confirmation email within the next few minutes, it may be because the email has been captured by a junk mail filter. Please ensure you add the domain @itnews.com.au to your white-listed senders.