Motorola Solutions, which makes two-way radios and other communications equipment, is reportedly up for sale in a move that could then see the last remaining part of the former Motorola Inc. pass into the hands of a private equity firm or another manufacturer.
Citing unnamed sources, Bloomberg reported that Motorola Solutions is seeking a buyer, although a deal is not expected to be imminent. The report said that a sale process has been under way for several months. Private equity companies as well as Raytheon, Honeywell International and General Dynamics have all been named as potential interested parties.
Schaumburg, Illinois-based Motorola Inc. was split into Motorola Solutions and a handset unit four years ago. The mobile phone unit was then sold to Google, which in turn sold it to China-based Lenovo in October 2014 to create the world’s third-largest smartphone manufacturer.
Bloomberg noted that Motorola Solutions shares rose as much as 8.7% due to optimism about a possible sale. The news agency said the company’s outlook for this year remains stagnant, with 2015 revenue expected to be flat or slightly lower.
