Motorola Inc on Friday said it will split into two independent, publicly traded companies by the first quarter of 2011.
After the "planned separation", one company will include the mobile devices and home businesses, while the other would include Motorola's enterprise mobility solutions and networks businesses.
"The board of directors support the planned separation of Motorola into two industry-leading public companies. We believe this structure provides significant operational and strategic flexibility for both the companies, positions them for future success and enhances long-term shareholder value," David Dorman, chairman, Motorola Board said.
The Schaumburg, Illinois-based company's co-chief executive officer Sanjay Jha would serve as CEO of the mobile devices and home businesses effective immediately.
The business will offer a comprehensive portfolio of mobile converged devices, digital entertainment devices in the home, end-to-end video, voice and data solutions.
"The combination of mobile devices and our home business brings together two highly complementary and innovative organisations. Our expanding portfolio of smartphones and end-to-end video content delivery capabilities will enable us to provide advanced mobile media solutions and multi-screen experiences for our customers," Jha said.
