Google to sell part of Motorola for $2.35 billion
ASSOCIATED PRESS December 19, 2012 7:28PM
Google is selling a part of its Motorola Mobility division for $2.35 billion to the Arris Group.
The sale announced late Wednesday involves the part of Motorola that makes cable TV boxes and other equipment for home entertainment. If the deal wins regulatory approval, Arris Group Inc. will take over within the next six months.
Google will retain the rest of Motorola Mobility, which makes smartphones and tablet computers.
The decision to jettison part of Motorola comes seven months after Google Inc. completed its $12.4 billion purchase of the Libertyville-based company in the biggest acquisition in its 14-year history. Motorola Mobility has since announced it will move its 3,000 workers starting next year to the Merchandise Mart in the River North neighborhood from Libertyville.
Google, which is based in Mountain View, Calif., primarily bought Motorola to shield itself from intellectual property lawsuits. Motorola’s assets include more than 17,000 mobile patents.
Arris is based in Suwanee, Ga.