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Moto May Split
Motorola, which just generated plenty of buzz with its launch of the Google-powered Droid smartphone, is generating more with plans to split itself into three companies.
The Schaumberg, Illinois-based maker of radioes, cell phones, and set-top boxes, has hired JPMorgan Chase, Centerview Partners, and Goldman Sachs to vet potential buyers for its set-top-box division and its division making radioes for cell-phone towers, the New York Times, citing anonymous sources, reports.
Philip Cusick, an analyst for Macquarie Capital, tells the Times that Motorola could rasie up to $5 billion through the sale, which would be used to pay down debt.
The Wall Street Journal reports the sale of the set-top-box and networking-gear division could fetch $4 billion to $5 billion.
The Journal reports the process is in a very early stage, and Motorola has not yet received any bids. But the auction kicked into gear after private equity players TPG and Silver Lake Partners approached Motorola over the set-top-box unit.
Kent Bernhard Jr. is News Editor of Portfolio.com
