Motorola is exploring the sale of its TV set-top boxes and networking gear as it seeks to split itself apart, according to the Wall Street Journal citing people familiar with the matter. The division could fetch between USD 4 billion and USD 5 billion. The decision comes as M&A activity in the technology industry is on the rise. Motorola has tried for nearly two years to spin off its mobile-phone business. Motorola Chairman David Dorman is now refereeing an internal debate over what shape the company should take, according to one person familiar with the matter. The auction of the set-top-box unit was triggered when two private-equity funds, TPG and Silver Lake Partners, approached Motorola recently and expressed an interest in buying the division. The sale process is still at an early stage and Motorola hasn't yet received initial bids and would not comment on rumors, while adding that it remains committed to its long-term plan to split off its mobile-phone unit. The set-top-box division, which had sales of USD 10.1 billion in 2008, was built largely from Motorola's 2000 acquisition of General Instrument for roughly USD 17 billion.
