Motorola to Spin Off Chip Subsidiary

 
 
By Jeffrey Burt  |  Posted 2003-10-13
 
 
 

Motorola will spin off its Semiconductor Products Sector chip operations into a separate company, prepping the spinoff for a public offering at a future date, company officials said.

The spinoff will give SPS the freedom and leverage to conduct its own business deals, using capital it can raise from public markets. Current SPS President and CEO Scott Anderson will lead the new unit, which does not yet have a name.

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