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Motorola Looking to Sell home/networks Set-Top Box Mobility Unit

By Steve Gavriliuc for CEOWORLD Magazine Updated:November 12, 2009

Motorola, Inc. (NYSE:MOT), the biggest U.S. mobile-phone maker, is looking to sell its home and network mobility business for $4-5 billion, The Wall Street Journal reports. The move is part of the telecom company’s attempt to plug declining sales by splitting itself into three businesses, which include the mobile devices unit, the home and networks business and an enterprise mobility unit.

The division accounted for about a third of Motorola’s sales last quarter.

JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS) and Centerview Partners are advising Motorola on the sale.

Private equity funds, TPG Capital and Silver Lake Partners, have expressed their interest in the unit, which was built largely from Motorola’s $17 billion acquisition of General Instrument in 2000.

The division had sales last year of $10.1 billion. Q3 sales were about $2 billion, down 15% year over year. GAAP operating earnings for the units were $199 million, down from $263 million in the year-ago quarter.

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Tagged with: Centerview Partners, Goldman Sachs, JPMorgan Chase, Mobile-phone, Motorola, Private equity funds, Silver Lake Partners, telecom, TPG Capital

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