Motorola announced that it will split itself into two separate firms, one focused on broadband and enterprise mobility, and the other tackling the difficult mobile devices market. The move comes after much pressure--the latest of it coming in the form of a lawsuit from contentious investor Carl Icahn--and two months or so of review by Motorola officials. Icahn made a push for the break-up the day after former Motorola CEO Ed Zander announced his departure late last year. Since then, new CEO Greg Brown hasn't had much breathing room for studying his options, but the split strategy, which likely will happen next year, doesn't come as a big surprise. The remaining question if whether or not it will be enough for some investors, including Icahn, who had eyed the possibility of Motorola being split into as many as four different firms.
- read this story at The Wall Street Journal
- Icahn recently filed a lawsuit to gain access to Motorola board records