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Motorola buys broadband TV company BitBand
By siliconindia
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Tuesday, 17 November 2009, 18:39 IST |
1 Comments
Bangalore: Motorola has agreed to acquire BitBand Technologies, a company that makes equipment for delivering television over broadband connections. The financial details of the transaction have not disclosed yet, but the acquisition, which is subject to customary closing conditions, is expected to close in the fourth quarter 2009.
BitBand, based in Israel, will be incorporated into Motorola's Home and Networks Mobility unit, which designs and manufactures digital video technology, set-top boxes and other equipment for cable and telecommunications companies.
Motorola shares fell three cents to $8.75 in morning trading. "We are proud to become part of a world-class organization through this acquisition. Our team and our customers will benefit from Motorola's leadership in video solutions and worldwide scale of operations," said Ervin Leibovici, CEO of BitBand.
The move comes as Motorola is struggling primarily due to the lack of success in its handset division. The company will be relying on the Google - backed Android operating system to turn around this business, and it has just released high-profile smartphones like the Cliq on T-Mobile and the Droid on Verizon Wireless.
