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Motorola to sell automotive electronic business ::
Motorola Inc. said Monday it is selling its automotive electronics business for about $1 billion US in cash to German tire company Continental AG, in a deal expected to close in the first half of this year.
The company said the deal will allow it to sharpen its focus on communications technology. For Continental, the deal further strengthens the company's position as a supplier to the automotive industry.
The auto electronics business generates about $1.6 billion in annual sales, and it will join Continental's automotive systems division, which has annual sales of about $6.5 billion. |
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