The Mobile Devices and Home businesses will be known as Motorola Mobility when the separation of the two Motorola businesses takes place early next year. The remaining part of the company will change its name from Motorola Inc to Motorola Solutions.
The details were given in a filing with the US Securities and Exchange Commission (SEC). “The filing of the Form 10 Registration Statement is an important achievement in our Separation plan to create two independent, publicly traded companies,” said Sanjay Jha, co-CEO of Motorola. “Mobile Devices has made significant progress in 2010, and we are confident that the Separation is the right strategy for Motorola, our stockholders, our customers, our partners and our employees. Together, Mobile Devices and Home are uniquely positioned to address the opportunities resulting from the convergence of media, mobility, the Internet and computing.”
Shares in the new companies will be offered to shareholders on a pro-rata basis through Motorola SpinCo. The transaction is subject to final approval by Motorola’s board of directors.