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Technology Stocks : Motorola (MOT)
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From: JakeStraw11/6/2007 8:36:22 AM
   of 3436
 
Motorola Unit Bids for Stake in Vertex
biz.yahoo.com
Monday November 5, 5:44 pm ET

Motorola Subsidiary Bids for Majority Stake in Japan's Vertex Standard

SCHAUMBURG, Ill. (AP) -- Motorola Inc. plans to spend $108 million to acquire an 80 percent stake in a Japanese maker of two-way radio equipment, officials said Monday.

MI Inc., a Motorola subsidiary, will launch a tender offer to acquire Vertex Standard Co. and will form a joint venture with Tokogiken, a privately held company controlled by Vertex Standard's president and chief executive officer.

Tokogiken will control the remaining 20 percent of Vertex Standard.

"This joint venture will enable Motorola and Vertex Standard to deliver an enhanced combined product offering to new regions and customers worldwide," Mark Moon, senior vice president of Motorola's government and commercial markets said in a statement.
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