Motorola says it has raised more than $1 billion in the first quarter by selling stakes in five wireless companies, and should take in another $2 billion in cash and stocks by shedding investments in Hong Kong and Mexico. In February, Motorola said it would begin slashing jobs and warned that its first-quarter performance might not meet analysts expectations.
In the Middle
The market for software that allows workers to access business information over wireless phones or personal digital assistants will reach $1.5 billion in sales by 2005, up from $137 million last year. The growth, about 61 percent per year, will be fueled by increasing numbers of mobile workers in the U.S. and western Europe.
Late to the Show
Starwood Hotels & Resorts Worldwide says it will use new technology from Cisco Systems to add Digital Subscriber Line access in its Sheraton Hotels & Resorts and Westin Hotels & Resorts over the next six months. Starwood is the last of the big three hotel operators to offer broadband access at its properties.