Motorola sells wireless networks business to Vector Capital

Motorola Solutions has agreed to sell its point-to-point (Orthogon) and point-to-multipoint (Canopy) wireless broadband networks businesses to private equity firm Vector Capital for an undisclosed amount. The transaction is expected to be completed as early as the end of September. The Motorola PTP and PMP businesses offer extensive portfolios of equipment for unlicensed and licensed bands, targeting key industry verticals. Vector Capital intends to operate the businesses as a single standalone company called Cambium Networks, which will be "well-funded and positioned to benefit from a more tailored focus and agile organizational structure", the company said. Motorola Solutions plans to continue to purchase products from Cambium Networks to meet the broadband needs of its public safety and federal accounts. Phil Bolt, vice president for Wireless Network Solutions at Motorola Solutions, will serve as CEO of Cambium Networks. PTP and PMP senior management, sales, supply chain, technical support, product management, marketing, and research and development teams also will transfer to Cambium Networks.