Motorola spins off mobile devices unit

SCHAUMBURG, IL - Motorola Inc. announced Wednesday it will separate its mobile devices unit from its broadband and mobility business and create two independent, publicly-traded companies. “Our decision to separate the businesses follows a review process undertaken by our management team and Board of Directors, together with independent advisors,” said Greg Brown, Motorola’s president and chief executive officer. “Creating two industry-leading companies will provide improved flexibility, more tailored capital structures, and increased management focus – as well as more targeted investment opportunities for our shareholders,” Brown said in a statement. Based on current plans, the creation of the two stand-alone...