Moto flogs SCG group
Gets $1.6 billion from Texas Pacific Group
The uncertainty over the future of Motorola's semiconductor components group (SCG) is over. As expected, Texas Pacific Group has taken the lead in a management buy out, worth $1.6 billion to Motorola. Texas Pacific Group is a private investment partnership specialising in technology buyouts. The independent enterprise will be headed by Motorola general manager Steve Hanson, with the current management team and employees remaining in the company. There are 10,000 SCG employees and had a turnover of $1.5 billion in 1998. ®
Sponsored: RAID: End of an era?