Google (GOOG) Looks to Divest Key Motorola (MMI) Asset Ahead of M&A Closing
Tweet
Share
E-mailGet Alerts GOOG Hot Sheet
Join SI Premium – FREE
Set-top boxes?!? We don't need no stinking set-top boxes!
According to the NY Post, Google (Nasdaq: GOOG) may be looking to divest Motorola's (NYSE: MMI) set-top box (STB) business as the search giant looks to close its pending $12.5 billion acquisition of Motorola. The Post noted the move is a change from last August, when Google CEO Larry Page was gung-ho on "revolutionizing" the living room.
Google isn't the only one looking to exit the STB segment. Cisco (Nasdaq: CSCO) might also be looking to sell its Scientific Atlanta unit and the Post said at least two smaller competitors -- Pace and Thomson's Technicolor -- will be looking to place similar businesses on the auction block.
With many media and consumer electronics companies looking to integrate offerings directly into the TV, the market for a larger, stand-alone device is waning. Google already offers its own home entertainment hardware deal with Google TV.
Google is reportedly hiring Qatalyst Partners and Barclays Capital to advise on the sale. No price tag has been placed on the division, but Motorola tried to sell it in 2009 (unsuccessfully, obviously) for $4.5 billion.
Shares of Google are up about 0.7 percent Wednesday.
According to the NY Post, Google (Nasdaq: GOOG) may be looking to divest Motorola's (NYSE: MMI) set-top box (STB) business as the search giant looks to close its pending $12.5 billion acquisition of Motorola. The Post noted the move is a change from last August, when Google CEO Larry Page was gung-ho on "revolutionizing" the living room.
Google isn't the only one looking to exit the STB segment. Cisco (Nasdaq: CSCO) might also be looking to sell its Scientific Atlanta unit and the Post said at least two smaller competitors -- Pace and Thomson's Technicolor -- will be looking to place similar businesses on the auction block.
With many media and consumer electronics companies looking to integrate offerings directly into the TV, the market for a larger, stand-alone device is waning. Google already offers its own home entertainment hardware deal with Google TV.
Google is reportedly hiring Qatalyst Partners and Barclays Capital to advise on the sale. No price tag has been placed on the division, but Motorola tried to sell it in 2009 (unsuccessfully, obviously) for $4.5 billion.
Shares of Google are up about 0.7 percent Wednesday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bernstein on whether Hershey (HSY) could eventually step up to buy Mondelez (MDLZ)
- LivePerson extends special meeting deadline for SoundHound AI merger vote
- Trustar Bank to acquire Forbright Bank branches for $750M in deposits
Create E-mail Alert Related Categories
Insiders' Blog, Mergers and Acquisitions, RumorsRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
