Motorola Solutions announced a deal to sell its Point-to-Point (PTP or Orthogon) and Point-to-Multipoint (PMP or Canopy) Wireless Broadband Networks businesses to Vector Capital, a leading global private equity firm. Financial terms were not disclosed.
The Motorola PTP and PMP businesses will operate as an independent company under a new name -- Cambium Networks.
The new Cambium Networks will continue to supply unlicensed and licensed solutions that address key industry verticals. Motorola Solutions plans to continue to purchase products from Cambium Networks to meet the broadband needs of its key direct public safety and federal accounts.
"We are pleased to have reached this agreement, which will further streamline the Motorola Solutions portfolio and position PTP and PMP for even greater success," said Greg Brown, chairman and CEO, Motorola Solutions. "Vector Capital has a strong track record in growing technology businesses, and we believe its continued targeted investment and oversight will best position these industry-leading brands to serve their distinct customer bases." http://www.motorolasolutions.com http://www.vectorcapital.com/
- In April 2011, Motorola Solutions completed the sale of its Networks business to Nokia Siemens Networks for approximately $975 million in cash. The deal included Motorola Solutions' GSM, CDMA, WCDMA, WiMAX and LTE products and services. As part of the deal, responsibility for supporting 50 operators across 52 countries, as well as approximately 6900 employees, will transfer to Nokia Siemens Networks. In addition, Nokia Siemens Networks is acquiring a number of research and development facilities including sites in the United States, China, Russia, India and the UK.
