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Motorola Nears $1.2 Billion Sale of Unit to Nokia Siemens

Jul 18, 2010
Motorola is close to selling its wireless equipment business to Nokia Siemens for $1.2 billion, as the beleaguered company moves closer to splitting itself in two.

The announcement of a Motorola deal with Nokia Siemens, the joint venture that makes wireless equipment, could be announced as early as Monday, a source familiar with the matter said.

Motorola's network unit, called Motorola Solutions, makes older networking gear that wirelessly transmits voice and data across CDMA and GSM technologies. Under the proposed deal, Nokia Siemens would buy most of Motorola Solutions, giving it instant and long-coveted access to top U.S. wireless carriers, including Verizon and Sprint.

Schaumburg, Ill.-based Motorola, which has been losing market share in mobile devices for years, plans to use the proceeds to increase its cash stockpile. It is on track to spin off its cell phone and set-top box division, the more famous group, into a separate company, called Motorola Mobility, early next year.

Motorola Mobility also plans to keep its lucrative walkie-talkie technology, known as iDEN, which is used by Sprint, the source said.

Last year, Nokia Siemens was outbid for two separate divisions of bankrupt telecom equipment maker Nortel.

Originally posted by Allen Tsai for Mobiledia
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