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Motorola eyes split into two in January
November 15, 2010 / 2:59 PM / 7 years ago

Motorola eyes split into two in January

<p>Signage for Motorola is displayed outside their office building in Tempe, Arizona in this October 29, 2009 file photo. REUTERS/Joshua Lott</p>

NEW YORK (Reuters) - Motorola Inc MOT.N is aiming to separate the company into two separate entities as soon as January, according to Greg Brown, its co-chief executive.

The company had previously said it would separate the company in the first quarter into two parts: Motorola Mobility, which will sell mobile handsets and television set-top boxes, and Motorola Solutions, which will supply wireless technology to governments and enterprises.

Brown, who will head Motorola Solutions, said on Monday that he expects that business to grow in a range of 4 percent to 5 percent in 2011 and set a long-term growth target of 5 percent to 8 percent.

The executive, who was speaking at the first Motorola Solutions investment conference, also said he expects the business to have an investment-grade rating at separation and vowed to consider dividend payments after the split.

Reporting by Sinead Carew; editing by Gerald E. McCormick

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