Motorola becomes two companies
Starting today, Motorola Inc will change its name to Motorola Solutions Inc (MSI) and will have a newly spun-off company called Motorola Mobility Holdings Inc (MMI). It means the current Motorola stock ticker (MOT) will be replaced by MSI and MMI.
Motorola Mobility Holdings will get the company’s smartphone business. The handset division that becomes MMH on Tuesday enjoyed a successful year in 2010 thanks to sales of Motorola’s Android-powered smartphones. The rest of the company (the business mobile and network divisions) will comprise Motorola Solutions and will trade on the NYSE as MSI.