Motorola Nears Unit Sale to Nokia Siemens for $1.2 billion

[Elmore Furth]

Another American business gobbled up by outsourcing.

PHILADELPHIA (Reuters) - Motorola Inc is close to selling most of its wireless-network equipment business to Nokia Siemens Networks for $1.2 billion, a source familiar with the matter said on Sunday.

Nokia Siemens Network, a joint venture of Finland's Nokia Corp and Germany's Siemens AG, would buy Motorola's network unit under the deal, which could be announced as early as Monday, the source said.

Motorola plans to keep its iDen technology, which works for walkie-talkie types of communications, the source added.

Motorola, which has been losing market share in cellphones for years, is splitting into two units: one comprising phones and set-top boxes, and the other its enterprise and network equipment business.

Motorola Nears Unit Sale to Nokia Siemens: Source