European regulators have cleared Motorola’s divestiture of its embedded communications computing division to Emerson Electric for $350m. The acquisition was announced in September 2007.
The commission said the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it.
The computing business of Motorola develops specialized computers to control equipments in a various applications such as telephone networks, industrial imaging systems, air traffic control and radar systems.
Emerson Electric develops and offers technology and engineering services to industrial, commercial and consumer markets. It plans to integrate Motorola’s embedded communications computing division with its Network Power division.
According to Chicago Tribune, Motorola has said that all-cash sale will tighten the company’s operating focus and provide capital to fund further growth.
The deal is expected to close by December 2007.
Source: ComputerWire daily updates